Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 500 units (Dollar, Euro, Pound, etc.), from date: Aug 30, 2018, to date: Sep 10, 2018, namely for a period of 11 days, with an annual simple flat interest rate of 10% if the commission fee (withdrawal or payment) is 5%.

Principal (initial amount), P = 500


Annual simple interest rate, R = 10%


From date: Aug 30, 2018


To date: Sep 10, 2018


Duration, T = 11 days


Commission fee (withdrawal or payment), F = 5%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(500 × 10% × 11) ÷ 365 =


(500 × 10 × 11) ÷ (365 × 100) =


55,000 ÷ 36,500 ≈


1.506849315068 ≈


1.51

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

B = P + I =


500 + 1.506849315068 =


501.506849315068 ≈


501.51

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

D = B - F =


B - F% × B =


(1 - F%) × B =


(1 - 5%) × 501.506849315068 =


95% × 501.506849315068 ≈


476.431506849315 ≈


476.43

Pr = Investment profit:

Pr = D - P =


476.431506849315 - 500 =


- 23.568493150685 ≈


- 23.57

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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