Derive simple intrest formulas
Answers
Answered by
1
Answer:
The simple interest formula allows us to calculate I, which is the interest earned or charged on a loan. According to this formula, the amount of interest is given by I = Prt, where P is the principal, r is the annual interest rate in decimal form, and t is the loan period expressed in years.
Answered by
0
S.I. Simple Interest
P Principal Amount
A Total Amount
r Rate of Interest
T Time (in Years)
S.I. = [(Principal (P) × Time (T) × Rate (r)) / 100]
P Principal Amount
A Total Amount
r Rate of Interest
T Time (in Years)
S.I. = [(Principal (P) × Time (T) × Rate (r)) / 100]
Similar questions