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Simple Interest




If throughout the loan period, the interest is charged on the original sum(principal) borrowed, it is called simple interest.

Formulas:

If, P = Principal.
R = Rate of interest.
T = Time.
S.I = Simple interest.

(i) S.I =  P x R x T
  100

(ii) P =  S.I x 100
  R x T

(iii) R =  S.I x 100
  P x T

(iv) T =  S.I x 100
  P x R