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The simple interest formula is given below in its standard form. When asked for the amount of interest to be paid, this is the perfect formula to use....see moreHowever, sometimes you will be required to find the principal, rate or time period for a loan, so rearranging this formula may make things simpler. If you are finding the principal, you may rearrange the equation so P is on the left of the equation, and I, r and t are on the right. This is sometimes called 'making P the subject'. You calculator can do this easily for you. This quiz tests your ability to find the Interest, Principal, rate, time and total amount on simple interest problems. see less
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Quiz Review Timeline (Updated): Mar 20, 2023 +
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