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. 

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 

To calculate the equipment rental rate, divide the cost of the equipment by the hours of equipment use.

How to Calculate Equipment Rental Rate?

The following example problems outline how to calculate Equipment Rental Rate.

Example Problem #1:

  1. First, determine the cost of the equipment ($). 
    • The cost of the equipment ($) is given as: 40.
  2. Next, determine the hours the equipment is used. 
    • The hours the equipment is used is provided as: 4.
  3. 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 = ?