Question

The rate is given as a percent (%). Before using it in the simple interest formula, you must first convert it to a _____.
fraction
ratio
dollar amount
decimal

Answer 1

Answer:

decimal

Step-by-step explanation:

Before using the rate given as a percentage in simple interest formula, you must first convert it to decimal.

 This helps in simplifying the work and help the calculation.

 Simple interest = $\frac{PRT}{100}$  

P is the principal

R is the rate

T is the time

  The rate is taken to decimal and inserted into the problem.

Answer 2

Before using it in the simple interest formula, you must first convert it to a decimal.

The following information should be considered:

• We know that there is four terms i.e. simple interest, Principal, rate of interest, and the time period.
• Also, SI = (Principal) (Rate) (Time period).
• Here for rate we have to take it in a decimal form and then insert into the problem.

Therefore we can conclude that the last option is correct.

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