By the rate and time....
How Do You Find The Principle When Rate And Time And Amount Of Interest Is Known?
You can use a simple interest formula for finding the principle amount. It is as follows:
P= I/rt
where
p is the principal amount
I is the interest amount
r is the rate of interest
T is the time for investment
P= I/rt
where
p is the principal amount
I is the interest amount
r is the rate of interest
T is the time for investment
P=?, T=5years, R=5%, A=5550
Please solve it & also advice me how you can solve it By taking these formulas
I=p*r*t & A=P+I
Please solve it & also advice me how you can solve it By taking these formulas
I=p*r*t & A=P+I
P=?, T=5years, R=5%, A=5550
Please solve it & also advice me how you can solve it By taking these formulas
I=p*r*t & A=P+I
Please solve it & also advice me how you can solve it By taking these formulas
I=p*r*t & A=P+I
I x r x t ex: I = 680$ p = ? R = 2% t = 4 years 680 x .02 x 4 = 896 and 896 is your answer! Hope I helped!
A = P(1+rt) if the interest is not compounded.
A = total amount; P = principal amount; r = interest rate for a period; t = number of periods
P = A/(1+rt) (divide both sides by (1+rt))
Example
An amount of $1200 is the balance after 2 years at an interest rate of 10%.
P = $1200/(1+.10*2) = $1200/(1.20) = $1000
_____
If the interest is compounded n times per period,
P = A/(1+r/n)nt
A = total amount; P = principal amount; r = interest rate for a period; t = number of periods
P = A/(1+rt) (divide both sides by (1+rt))
Example
An amount of $1200 is the balance after 2 years at an interest rate of 10%.
P = $1200/(1+.10*2) = $1200/(1.20) = $1000
_____
If the interest is compounded n times per period,
P = A/(1+r/n)nt