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Simple Interest Flashcards
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Formula
If money doubles in T years at R%, then RT = 100. Example = ?
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Answer
doubles in 5 years → R = 20%.
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Formula
If money triples in T years = ?
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2P = SI → 2×100 = RT → RT = 200.
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Formula
Rate conversion = ?
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Answer
Monthly rate to yearly → multiply by 12. Daily rate → multiply by 365.
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