SIMPLE INTEREST
INTEREST : The amount paid by the borrower for using the money of the lender. It is denoted by 'I'. Interest are two types. (1). SIMPLE INTEREST (2). COMPOUND INTEREST. PRINCIPLE : The amount given by the lender to the borrower. It is denoted by 'I'. S.I = (P*T*R)/100 P- Principal amount T- Time period R- Rate of Interest Ex: P=1000 T=2yrs R=10% S.I =(PTR)/100 =(1000*2*10)/100 =200 We can calculate the amount by adding the S.I to Principal amount. Therefore formula for Amount= S.I + Principal From the above example: amount= 200 + 1000 Total amount = 1200. If the rate of interest is calculated half yearly then the formula is Here T=2T , because time is calculated for every six months so time will be double in a year. S.I = (2*P*T*R)/100 For the above example if Time calculate...