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Simple interest: Use the formula I=PRT
P= $ or principal
R= %
T= time (in years- divide by 12 if given months)
I didn't use your formula bc I do not understand it =). I just did 975 divided by 780. When you do this you will get 125. This means that 975 is 125% of 780. So it has to be 25% more than 780. You can see that 780 divided by 4 (25 times 4 is 100 so 25 % is one fourth) is 195. Then 780 plus 195 is 975.
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