## Thinking Mathematically (6th Edition)

$P=\frac{I}{rt}$.
The provided formula is$I=P.r.t$ and now solve the formula for $P$by dividing both the sides by $rt$. \begin{align} & I=P.r.t \\ & \frac{I}{rt}=\frac{P..}{} \\ & P=\frac{I}{rt} \end{align} The formula $I=P.r.t$is for simple interest, where $I=$interest earned on principal value, $P=$principal value, $r=$rate at which the interest is earned, and$t=$the time duration in which the interest is earned. The formula is$P=\frac{I}{rt}$.