Question

how to calculate Simple Interest if rate of interest and time are given? Please explain with examples​

Answer 1

to calculate simple interest principal must be given ....

as.

simple interest=principal*rate*time/100

hope it's clear...

Answer 2

Answer:

The elements-

The principle is the money paid or deposited.

The rate of interest represents the amount to be increased (written in percentage only)

Interest is the extra money given when the money is borrowed.

So the formula is-

PRINCIPLE×RATE×TIME = SIMPLE INTEREST

100

For example,

P= $5000, R =4% per annum, T=1 year

= 5000×4×1 = 200

100 1

So, after one year the amount would be

$5000+$200 = $5200