simple intrest formula
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How do you Calculate Simple Interest? Simple Interest is calculated using the following formula: SI = P × R × T, where P = Principal, R = Rate of Interest, and T = Time period. Here, the rate is given in percentage (r%) is written as r/100.
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A=final amount P=initial principal balance r=annual interest rate t=time (in years)
A=P( 1+rt)
Step-by-step explanation:
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