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formula for simple interest in mathematics. Let the rate at which the interest is levied is equal to R per annum per year. The formula for Simple interest is given by.
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When a person takes a loan from a bank so heshe has to return the principal borrowed plus the interest amount so that the total amount returned is called Amount. SI simple interest. This may seem high but remember that in the context of a loan interest is really just a fee for borrowing the money.
The rate of interest is the percent charged for the use of money.
SI simple interest. Calculate Interest solve for I. I Prt becomes r IPt Remember to use 1412 for time and move the 12 to the numerator in the formula above. SI 1000 5 100 10 500 SI 1000 5 100 10 500.
