Simple Interest Important Formulas
What is the formula to find the simple interest?
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Answered by
31
Simple Interest SI is the interest that is calculated on a principal based on a rate of interest and the number of years of loan/deposit.
Principal / capital amount = P
Rate of Interest = SI rate = r %
Number of years of deposit/loan = n
Amount of Simple interest = SI = P * r * n
Principal / capital amount = P
Rate of Interest = SI rate = r %
Number of years of deposit/loan = n
Amount of Simple interest = SI = P * r * n
Answered by
25
Hey there,
First of all in simple interest 3 things will in it,
1.Principle
2.Rate
3.Time
Then, to find simple interest the fornula will be=P×R×T/100
:-) Hope it helps.......
First of all in simple interest 3 things will in it,
1.Principle
2.Rate
3.Time
Then, to find simple interest the fornula will be=P×R×T/100
:-) Hope it helps.......
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