Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 300 units (Dollar, Euro, Pound, etc.), from date: Jun 5, 2017, to date: Jun 13, 2017, namely for a period of 8 days, with an annual simple flat interest rate of 20% if the commission fee (withdrawal or payment) is 2%.

Principal (initial amount), P = 300


Annual simple interest rate, R = 20%


From date: Jun 5, 2017


To date: Jun 13, 2017


Duration, T = 8 days


Commission fee (withdrawal or payment), F = 2%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(300 × 20% × 8) ÷ 365 =


(300 × 20 × 8) ÷ (365 × 100) =


48,000 ÷ 36,500 ≈


1.315068493151 ≈


1.32

B = Amount earned before deducting the
commission fee (withdrawal or payment):

B = P + I =


300 + 1.315068493151 =


301.315068493151 ≈


301.32

D = Amount earned after deducting the
commission fee (withdrawal or payment):

D = B - F =


B - F% × B =


(1 - F%) × B =


(1 - 2%) × 301.315068493151 =


98% × 301.315068493151 ≈


295.288767123288 ≈


295.29

Pr = Investment profit:

Pr = D - P =


295.288767123288 - 300 =


- 4.711232876712 ≈


- 4.71

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

Writing numbers: comma ',' as thousands separator; point '.' as a decimal mark;

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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