Amount of money borrowed or loaned
Amount of simple interest
The period of time, usually expressed in years
Rate per unit time; usually per annum.
P = IRT/100
I = PRT/100
I = PRT/10
P = IRT/P
4.2 years
4 years
3.5 years
3 years
4.5
$4000
30
$450
I = (6000 x 12 x 24)/100
I = (1440 x 12 x 24)/100
I = (6000 x 12 x 2)/100
I = (1440 x 12 x 2)/100