The Solving Simple Interest Problems Series
The Solving Simple Interest Problems is a series of tutorials on how to solve simple interest problems. In solving interest problems you need to know the following terms:
the principal (P) is the money invested, the rate (R) of interest is the percentage of interest (that is the number with percent sign), the time (T) and the interest (I) is the earnings or return of investment. The interest is the product of the principal, the rate, and the time, or I = PRT is explained in the first part of the series.
How to Solve Simple Interest Problems Part 1 discusses the basics of simple interest problems and the terms used in such problems. Two examples worked examples are solved in which interests are both unknowns.
How to Solve Simple Interest Problems Part 2 is a continuation of the simple interest discussion. One problem is an example of a rate of interest which is not given yearly and the other one is an investment made for more than a year.
How to Solve Simple Interest Problems Part 3 is a discussion of simple interest problems where the unknowns are the principal and the rate.
I will be posting exercises and problems with solutions about this type of problems soon, so keep posted.