Find the Principal when Given Rate, Time and Simple Interest
Welcome to this Math Review Guide on Interest Rates. If you are looking for help in Percentages, Interest Rates, or the difference between Simple Interest and Compound Interest you are exactly at the place you need to be. In this video, I will be teaching you guys how to solve for the principal in simple interest. To find the principal, we first solve for the Principal. The formula for Principal is Simple Interest x 100 / Time x Rate
To find the Simple Interest, we take the principal multiply with the time and multiply with the rate per year and divide it by 100. If the time is given as months, then we would convert the months to a fraction and then using the same steps mentioned above.
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To understand more about Simple Interest and How to Calculate Simple Interest please watch: • Learn to Calculate Simple Interest in...
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