Question

formula of simple interest ​

Answer 1

Simple Interest = (Principle*Rate of interest*Time)/100

Answer 2

Principal:

The money borrowed or lent out for a certain period is called the principal or the sum.

Interest:

Extra money paid for using other's money is called interest.

Simple Interest (S.I.):

If the interest on a sum borrowed for certain period is reckoned uniformly, then it is called simple interest.

Let Principal = P, Rate = R% per annum (p.a.) and Time = T years. Then

(i). Simple Intereest =P x R x T100

(ii). P =100 x S.I.; R =100 x S.I.and T =100 x S.I. .R x TP x TP x R