Simple Interest

what is interest, principal and Simple Interest?

Interest:

Extra money paid for using other's money is called interest.

principal:

The money borrowed or lent out for a certain period is called the principal or the sum.

Simple Interest (S.I.):

  1.  Simple Interest  \(=\left(\frac{\mathrm{P} \times \mathrm{R} \times \mathrm{T}}{100}\right)\)
  2. \(P=\left(\frac{100 \times S .I .}{R \times T}\right)\)
  3. \(R=\left(\frac{100 \times S .1 .}{P \times T}\right)\)
  4. and T= \(\mathrm{T}=\left(\frac{100 \times \mathrm{S.l.}}{\mathrm{P} \times \mathrm{R}}\right)\)