The annual interest rate is generally% (percentage), and the monthly interest rate is generally expressed as ‰ (one thousandth); The daily interest rate is expressed as a few tenths of the principal, which is usually called a few cents.

If the daily interest rate is 1%, that is, the principal is 1 yuan, and the daily interest rate is 0.005438+0 yuan. (1% =0.00 1 yuan, 10 cents =0.000 1 yuan)

Take the daily interest rate 1% as an example, that is, one thousandth interest rate =0. 1%.

Add ten thousand principal of the loan, and then according to the formula: daily interest = principal * daily interest rate.

Daily interest =10000 * 0.1%=10 (yuan)

Li is a traditional interest unit in China, such as: annual interest 1%, that is, 1%, and annual loan income 100 yuan; Monthly income 1%, that is, 0. 1%, January lending income 10 yuan; Daily interest (interest rate) 1% 0.0 1% lending 1. 1 daily income 1 yuan.

The common unit of private lending is "Li", which means several thousandths. For example, 3% interest is 0.3%, and interest is calculated by time. Before calculation, it is necessary to distinguish whether it is day, month or year.

For example, Li Er borrowed 10000 yuan from Hu San, saying that borrowing 1 month would pay 5% daily interest.

So Li Er means to lend Hu San 1 0,000 yuan and give Hu San 0.5% daily interest. After Hu San's principal is added with interest, 1 0,000+10,000 * 0.5% * 30 =1,.

Extended data

Interest (year) = principal × annual interest rate (percentage) × deposit period

Or interest = principal × interest rate× time

Deposit interest = principal x days x listing interest (daily interest rate) = interest-bearing days x daily interest rate

Interest tax = deposit interest (income tax payable) × applicable tax rate

The amount of interest depends on three factors: principal, deposit period and interest rate level.

The calculation formula of interest is: interest = principal x interest rate x deposit term.

According to People's Republic of China (PRC) State Taxation Administration of The People's Republic of China Guoshuihan [2008] No.826, since June 9, 2008, personal income tax on savings deposit interest is temporarily exempted, so the interest tax on savings deposit interest is temporarily exempted at present.

Baidu encyclopedia-Li

Baidu encyclopedia-monthly interest rate

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