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Jane is borrowing money from her sister, who is charging her simple interest using the formula I = Prt. To figure out the interest rate r, Jane rearranges the formula. What is r in terms of I, P, and t?

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choixongdong

I = Prt

r in terms of I, P, and t:

I = Prt

Re-write

Prt = I

Divide both sides by Pt

Prt /Pt = I/Pt

Simplifying

r = I/Pt

The rate of interest r in terms of I, P, and t is r = I/Pt

What is simple interest?

Simple interest is revenue determined on the principal amount of a credit or the first commitment to a bank account. Compound interest doesn't build, implying that a record holder will just acquire revenue on the head, and a borrower won't ever need to pay revenue on premium previously gathered.

The simple interest formula is given by

S.I = P x r x t

Divide both sides by Pt, we get the rate of interest

r = I/Pt

Thus, the  r in terms of I, P, and t is r = I/Pt.

Learn more about simple interest.

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