Enter the cost of the equipment ($) and the hours the equipment is used into the Equipment Rental Rate Calculator. The calculator will evaluate the Equipment Rental Rate.
- All Rate Calculators
- Overall Equipment Effectiveness (OEE) Calculator
- Application Rate Calculator
- Royalty Rate Calculator
Equipment Rental Rate Formula
The following two example problems outline the steps and information needed to calculate the Equipment Rental Rate.
ERR = CE / TE
- Where ERR is the Equipment Rental Rate ($/hr)
- CE is the cost of the equipment ($)
- TE is the hours the equipment is used
How to Calculate Equipment Rental Rate?
The following example problems outline how to calculate Equipment Rental Rate.
Example Problem #1:
- First, determine the cost of the equipment ($).
- The cost of the equipment ($) is given as: 40.
- Next, determine the hours the equipment is used.
- The hours the equipment is used is provided as: 4.
- Finally, calculate the Equipment Rental Rate using the equation above:
ERR = CE / TE
The values provided above are inserted into the equation below and computed.
ERR = 40 / 4 = 10.00 ($/hr)
Example Problem #2:
For this problem, the variables required are provided below:
cost of the equipment ($) = 50
hours the equipment is used = 10
Test your knowledge using the equation and check your answer with the calculator..
ERR = CE / TE = ?
