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Simple Interest :-

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IMPORTANT EXAMPLES
::Important Formulas

Here Some Basic Formulas/Rules Are given below :-

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

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

  3. Simple Interest (S.I.) : If the interest on a sum borrowed for a certain period is reckoned uniformly, then it is called simple interest.
    Let principal = P, Rate = R% per annum (p.a.) and Time = T years. Then

    1. S.I. = ( P X R X T/100 )

    2. P = ( 100 X S.I./R X T )

    3. R = ( 100 X S.I./P X T )

    4. T = ( 100 X S.I./P X R )

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