Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 4,000 units (Dollar, Euro, Pound, etc.), from date: May 7, 2018, to date: Jun 7, 2018, namely for a period of 31 days, with an annual simple flat interest rate of 27% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 4,000


Annual simple interest rate, R = 27%


From date: May 7, 2018


To date: Jun 7, 2018


Duration, T = 31 days


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(4,000 × 27% × 31) ÷ 365 =


(4,000 × 27 × 31) ÷ (365 × 100) =


3,348,000 ÷ 36,500 ≈


91.72602739726 ≈


91.73

B = Amount earned:

B = P + I =


4,000 + 91.72602739726 =


4,091.72602739726 ≈


4,091.73

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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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