• Mathematics (secondary) - Secondary/KS4/GCSE (age 14-15 yrs)

    Q: What is the formula for calculating the interest rate?

    There are two types of interest which can be calculated using a different formula Simple Interest Compound Interest To calculate simple interest, the formula used is (PX RX T)/ 100 Where P is the principal amount, R is for the rate of interest and t is for time The formula for calculating compound interest is PX (1 + r/100) ^t

    Maria

    Q&As by Maria (8)

    18 views

What makes us different?

SIGN UP TO OUR NEWSLETTER