Question

WRITE
ALGORITHEM
INPUT p,r and t and calculate simple interest
INTERÉSZ
AND ť
AND CALCULATE
Foa​

Answer 1

Answer:

What is ‘Simple Interest’?

Simple interest is a quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments.

Simple Interest formula:

Simple interest formula is given by:

Simple Interest = (P x T x R)/100

Where,

P is the principle amount

T is the time and

R is the rate

Explanation:

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