Question

Simple Interest Important Formulas
What is the formula to find the simple interest?

Answer 1

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

Answer 2

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.......