Question

how do you work out simple 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.

Answer 2

Answer:

As the name suggests, simple interest is a quick way of calculating interest. Simple interest is worked out by calculating the percentage amount and multiplying it by the number of periods that the money will be invested for.

Step-by-step explanation:

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