Simple interest

What it does

Calculates simple interest from the supplied values.

When to use it

Use this mathematics formula when the named quantities are known.

Variables

Worked example

{
  "inputs": {
    "rate": 0.05,
    "time": 2,
    "principal": 1000
  },
  "result": 100
}

Common mistakes

Check units, signs, brackets and that every value is entered in the stated units.