Single Interest In Math

Understanding Single Interest

A single interest is interest earned at the end of a specified period of time which does not affect the amount of borrowed capital.

Single Interest Formulas

Interest = (interest rate per period) x (number of periods) x (capital)

Example of Single Interest Problem

A capital of $1,000 is levied with a single rate of 2%/month. Determine the interest after 1 month!

Resolution:
Interest = (interest rate per period) x (number of periods) x (capital)
Interest = 2% x 1 x $1,000
Interest = $20

So the big interest is $20.

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