Accountancy, asked by jivanshantiamc8618, 1 year ago

What is the meaning of principle in simple interest?

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Answered by amritanshu6

The simple interest formula allows us to calculate I, which is the interest earned or charged on a loan. According to this formula, the amount of interest is given by I = Prt, where P is the principal, r is the annual interestrate in decimal form, and t is the loan period expressed in years.

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