What is interest rate - Definition and Meaning

Interest Rate :

A rate at which the interest is calculated and paid by the borrower of money/asset to the lender.


Formula :

R = (SI / PT) * 100 %

Example :

Interest amount = 500, borrowed money = 2500, time = 5 years, R = (500 * 100) / (5 * 2500) = 4 %
Interest Inter-quartile Range (IQR)

Learn what is interest rate. Also find the definition and meaning for various math words from this math dictionary.


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