formula of simple interest
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#Interest = Principal × Rate × Time/100
where:
#'Interest' is the total amount of interest paid,
#'Principal' is the amount lent or borrowed,
#'Rate' is the percentage of the principal charged as interest each year.
hope this helpful
where:
#'Interest' is the total amount of interest paid,
#'Principal' is the amount lent or borrowed,
#'Rate' is the percentage of the principal charged as interest each year.
hope this helpful
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