To solve the formula for simple interest $I = Prt$ for $P$ (the principal), follow these steps:

Given formula:

$I = Prt$

Solving for $P$:

1. Isolate $P$: Divide both sides of the equation by $rt$: $P = \frac{I}{rt}$

Final solution:

$P = \frac{I}{rt}$

This means that to find the principal $P$, you divide the simple interest $I$ by the product of the interest rate $r$ and time $t$.

Would you like more details or have any questions?

Here are 5 related questions:

1. How would you calculate $r$ (the interest rate) if you know $I$, $P$, and $t$?
2. What is the difference between simple interest and compound interest?
3. How does changing $t$ (time) affect the amount of simple interest earned?
4. If the interest rate is given as a percentage, how do you convert it to decimal form in the formula?
5. What happens if the time $t$ is less than 1 year? How does this affect the calculation?

Tip: Always express the interest rate $r$ as a decimal in the formula (e.g., 5% becomes 0.05).