Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 12,500,000 units (Dollar, Euro, Pound, etc.), from date: Jul 14, 2020, to date: Jul 14, 2021, namely for a period of 365 days (12 Months), with an annual simple flat interest rate of 30% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 12,500,000

Annual simple interest rate, R = 30%

From date: Jul 14, 2020

To date: Jul 14, 2021

Duration, T = 365 days (12 Months)

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

No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =

(12,500,000 × 30% × 365) ÷ 365 =

(12,500,000 × 30 × 365) ÷ (365 × 100) =

136,875,000,000 ÷ 36,500 =

3,750,000

B = Amount earned:

B = P + I =

12,500,000 + 3,750,000 =

16,250,000

Signs: % percent, ÷ divide, × multiply, = 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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