The efficiency of a riveted joint is defined as the ratio of the strength of riveted joint to the strength of the un-riveted or solid plate.
We have already discussed that
Strength of the riveted joint = Least of Pt, Ps and Pc
Strength of the un-riveted or solid plate per pitch length,
P = p × t × σt
Efficiency of the riveted joint,
η = (Least of Pt , Ps and Pc) / (p × t × σt)
where p = Pitch of the rivets,
t = Thickness of the plate, and
σt = Permissible tensile stress of the plate material.