Question

if the period is increased, then the simple interest per each term​

Answer 1

Answer:

We solve this problem by first considering the formula for simple interest, S.I=PRT100

. Then we assume the values of time period and rate of interest as t and r and substitute them in the simple interest formula. Then we check whether the simple interest increases with increase in principle if so, we mark the answer as true else as false.

First let us consider the formula for the Simple Interest.

S.I=PRT100

where, S.I = Simple Interest

P = Principle

R = Rate of interest in percentage

T = Time Period

We are given the statement, For a fixed time period and rate of interest, the simple interest is directly proportional to the principle.

We are given that time period is fixed and rate of interest is also fixed. So, let us assume that time period is t and rate of interest is r.

Now, let us substitute these values in the formula of simple interest.

S.I=Prt100

So, from above we can see that now simple interest depends only on principle.

We can also see that if we increase the value of P then the value of Simple Interest increases.

So, we can say that Simple interest is directly proportional to principle when the rate of interest and time period are fixed.

So, the given statement is true.

Hence, the answer is True.

Note: The common mistake one makes while solving this problem is one might take the formula for simple interest as I=P−P(1+R100)T

. But it is wrong as it is the formula for the compound interest not for the simple interest

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