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If the principal and the amount of interest for one year are known, the rate of interest of interest can be found

If the principal and the amount of interest for one year are known, the rate of interest of interest can be found
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if the principal and the amount of interest for one year are known, the rate of interest of interest can be found

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User Neghez
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1 Answer

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For Simple Interest, I = PRT/100

Time = 1 year.

I = P*R*1/100

100*I = PR

100I / P = R

The formula for the Rate, R = 100I / P.
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User Matt Fiocca
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