I is the daily interest rate. This is the amount that Mr. Sales tax price of item tax rate.
Alex pays Interest of 1000 10 x 2 Years 200 That is how simple interest works.
Sales tax price of item tax rate. SI P R T 100 Where SI simple interest. A gets at the end of the term ie after 2 years. The time is the duration or the time the money is invested or borrowed in years.