Question

4. Formula to find Interest (!)​

Answer 1

Answer:

You can calculate Interest on your loans and investments by using the following formula for calculating simple interest: Simple Interest= P x R x T ÷ 100, where P = Principal, R = Rate of Interest and T = Time Period of the Loan/Deposit in years.

Formula: Simple Interest=P×r×t where: P=Principal amount; r=Annual interest rate; t=...

Principal Amount: Principal Amount remains constant on Simple Interest

Meaning: Simple Interest is calculated on the Principal Amount for the entire tenure

Calculation: It is easy to calculate Simple Interest

Step-by-step explanation:

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Answer 2

We can calculate Interest on your loans and investments by using the following formula for calculating simple interest: 

$\underline{ \boxed{ \red{\textbf{ \textsf{ { {Simple Interest= }}}} \bf\dfrac{P \times R \times T }{ 100}}}}$

where,

• P = Principal,
• R = Rate of Interest
• T = Time Period of the Loan/Deposit in years.