Simple Interest

Simple Interest

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

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Simple Interest Terms

P = Principal.

R = Rate of interest.

T = Time.

S.I = Simple interest.

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Simple Interest Formulas

(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

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