With this tool, a fraction can be simplified to its lowest reduced form. After this simplification, the only common factor between the numerator and the denominator will be 1.
How to calculate the simplified fraction
Step 1: Enter the numerator of the fraction
Step 2: Enter the denominator of the fraction
Step 3: Click the Calculate button
On clicking the Calculate button, the simplified fraction will be shown.
Examples for finding simplified fraction
Example 1:
Entered Fraction = 40/8
Simplified Fraction = 5
Example 2:
Entered Fraction = 5/7
Simplified Fraction = 5/7
Example 3:
Entered Fraction = 25/15
Simplified Fraction = 5/3
A simple interest calculator is a useful tool that helps you calculate the interest earned or paid on a principal amount for a specified period of time. The concept of simple interest is one of the most basic principles of finance and is used in many different applications, including loans, investments, and savings accounts. In this article, we will discuss what simple interest is, how it works, and how you can use a simple interest calculator to calculate the interest on your investments, loans, or savings accounts.
What is Simple Interest?
Simple interest is the amount of interest earned or paid on a principal amount over a specified period of time. Unlike compound interest, which is calculated on both the principal amount and the accumulated interest, simple interest is calculated only on the principal amount.
The formula for calculating simple interest is as follows:
Simple Interest = Principal x Rate x Time
Where:
• Principal is the amount of money you have borrowed or invested.
• Rate is the interest rate expressed as a percentage.
• Time is the length of time the money has been borrowed or invested, expressed in years.
For example, if you borrow $1,000 at an annual interest rate of 5% for 2 years, the simple interest would be calculated as follows:
Simple Interest = $1,000 x 5% x 2 years = $100
This means that you would have to pay $1,100 at the end of the 2-year period, consisting of the original principal amount of $1,000 plus the simple interest of $100.
How does Simple Interest Calculator work?
A simple interest calculator is a tool that helps you calculate the interest on a principal amount over a specified period of time. The calculator uses the formula for simple interest to determine the amount of interest earned or paid on a principal amount.
To use a simple interest calculator, you need to enter the following information:
• Principal: This is the amount of money you have borrowed or invested.
• Rate: This is the interest rate expressed as a percentage.
• Time: This is the length of time the money has been borrowed or invested, expressed in years.
Once you enter this information, the calculator will automatically calculate the amount of interest earned or paid on the principal amount.
Uses of Simple Interest Calculator
A simple interest calculator is a useful tool in many different applications, including loans, investments, and savings accounts. Here are some examples of how it can be used:
1. Calculating the interest on a loan
A simple interest calculator can be used to calculate the interest on a loan. For example, if you borrow $10,000 at an annual interest rate of 5% for 5 years, you can use the calculator to determine the amount of interest you will pay over the 5-year period.
2. Calculating the interest on an investment
A simple interest calculator can be used to calculate the interest on an investment. For example, if you invest $5,000 in a savings account that pays an annual interest rate of 2% for 10 years, you can use the calculator to determine the amount of interest you will earn over the 10-year period.
3. Comparing different investment options
A simple interest calculator can be used to compare different investment options. For example, if you are considering investing in two different savings accounts, one that pays 2% annual interest and another that pays 3% annual interest, you can use the calculator to determine the amount of interest you will earn from each account over a specified period of time.
4. Determining the payment schedule for a loan
A simple interest calculator can be used to determine the payment schedule for a loan. For example, if you borrow $10,000 at an annual interest rate of 5% for 5 years, you can use the calculator to determine.
