Question

Interest is always calculated on Principal.​

Answer 1

Answer:

yes

Step-by-step explanation:

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Answer 2

Step-by-step explanation:

Simple Interest is calculated on the principal amount on a daily/monthly/annual basis. Principal Amount remains constant during the entire tenure on Simple Interest. The formula for calculating Simple Interest is P x r x t ÷ 100, where P=Principal Amount, Rate of Interest & T= Time.