Learn what simple interest is and how to calculate it using examples with a simple interest formula. You can also use a simple interest calculator.

Learn what simple interest is and how to calculate it using examples with a simple interest formula. You can also use a simple interest calculator.

The formula for calculating simple interest in a savings account is Interest = P * R * T. Multiply the account balance by the interest rate by the time period.

This video will help you in understanding the basic concepts of Simple Interest and formulas to quickly attempt these questions in competitive exams.

The formula for calculating savings account interest uses the initial deposit, the annual interest rate and the years of growth. Compound interest earns the account holder more than simple ...