Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1,500 units (Dollar, Euro, Pound, etc.), from date: Jun 26, 2017, to date: Sep 16, 2017, namely for a period of 82 days (3 Months without 10 Days), with an annual simple flat interest rate of 0.1% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 1,500


Annual simple interest rate, R = 0.1%


From date: Jun 26, 2017


To date: Sep 16, 2017


Duration, T = 82 days (3 Months without 10 Days)


Commission fee (withdrawal or payment), F = 0%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(1,500 × 0.1% × 82) ÷ 365 =


(1,500 × 0.1 × 82) ÷ (365 × 100) =


12,300 ÷ 36,500 ≈


0.33698630137 ≈


0.34

B = Amount earned:

B = P + I =


1,500 + 0.33698630137 =


1,500.33698630137 ≈


1,500.34

Signs: % percent, ÷ divide, × multiply, ≈ approximately equal;

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Calculate simple flat rate interest on a principal borrowed, lent

Simple flat rate interest = (Principal × Annual simple flat interest rate × Duration in days) ÷ Number of days in a year

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