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

To convert a percentage to a decimal for use in the simple interest formula, follow these steps:

1. ### Break Down the Problem

You need to convert a percentage into a decimal form. The simple interest formula uses the decimal representation of the interest rate.

2. ### Relevant Concepts

The conversion from percentage to decimal is done by dividing the percentage value by 100.

3. ### Analysis and Detail

• For example, if the interest rate is 5%, you would convert it as follows: $\text{Decimal form} = \frac{\text{Percentage}}{100} = \frac{5}{100} = 0.05$

4. ### Verify and Summarize

• Always ensure to double-check that the decimal representation correctly corresponds to the percentage:
  • 5% translates to 0.05
  • 10% translates to 0.10
  • 20% translates to 0.20, and so on.

Final Answer

To convert a percentage to its decimal form for the simple interest formula, divide the percentage by 100.