teel the simple interest formula
Answers (2)
10th Apr, 2020
Hii Raunak!
The simple interest formula is as follows-
A= P( 1+ rt ).
A=final amount
P= intial principle balance ( money to be invested )
r= nnual interest rate ( P invested at this rate )
t= time (in years) ( number of time period )
Simple interest is used when the interest on a loan or amount is calculated only on the amount initially invested.
Hope this helps.
Good luck!
The simple interest formula is as follows-
A= P( 1+ rt ).
A=final amount
P= intial principle balance ( money to be invested )
r= nnual interest rate ( P invested at this rate )
t= time (in years) ( number of time period )
Simple interest is used when the interest on a loan or amount is calculated only on the amount initially invested.
Hope this helps.
Good luck!
Comments (0)
10th Apr, 2020
hey,
The formula for calculating simple interest is as follows:
S.I= (P*R*T)/100
where
S.I= Simple Interest
P=principal amount
R = rate of interest
T =Time of interest
And amount is equal to the sum of Principal amount and Interest calculated.
i.e: A= P+I
where A= amount
P= Principal amount
and,
I = simple interest the formula for which is given above.
I hope this helps.
All the best!
Comments (0)
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