Question

simple interest is calculated on __________ for a period of time
a Amount
b Principal
c Interest

Answer 1

Answer:

b) principle

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.

Answer 2

amount

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.