Fun With Permutations
CJam, 15 14 bytes

r~\;~\),&gt;UXt:*


Try it online in the CJam interpreter.

How it works

r              e# Read a token ("nPr") from STDIN.
 ~             e# Evaluate. This pushes the numbers n, Pi and r on the stack.
  \;           e# Discard Pi.
    ~          e# Take the bitwise NOT of r. Pushes -(r+1).
     \)        e# Increment n.    
       ,       e# Turn n+1 into [0 ... n].
        &gt;      e# Keep only the last r+1 elements.
         UXt   e# Replace the first element with 1.
               e# This avoid dealing with the egde case nP0 separately.
            :* e# Compute their product.