CLASS 7 · LEARNING KNOWLEDGE
Simple interest calculation
How it works
Interest depends on capital, interest rate, and duration. With simple interest, the capital earning interest remains the same. In commercial day-count problems, 360 days per year are explicitly used.
Note
Annual interest Z=K·p/100; monthly interest Z=K·p·m/1200.
Annual interest Z=K·p/100; monthly interest Z=K·p·m/1200.
An example
Calculate the simple annual interest for 7700 € at 9/2 % per year. Give the result in €.
Z=K·p: 100 = 7700·9/2 : 100. Result: 346.5 €.
Try it yourself now
50 Exercises · three difficulty levels · selection and number input
To the learning unit →Own explanation and own practice exercises by AmyMath. Subject reference framework: KMK Educational Standards Mathematics ESA/MSA. The topic assignment may vary by federal state.