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Introduction to Simple Interest

The mathemati...

Question

The mathematical formula for calculating simple interest is
$S I = P \times R \times T$
where as. $R$ = Percentage Rate of interest.

A

True

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B

False

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Solution

The correct option is A True

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Similar questions

Q. The mathematical formula for calculating simple interest is

S I = P \times R \times T

R

= Percentage Rate of interest.

Q. Write a Python program to calculate the amount payable if money has been lent on simple interest.
Principal or money lent = P, Rate of interest = R% per annum and Time = T years. Then Simple Interest (SI) = (P x R x T)/ 100.
Amount payable = Principal + SI. P, R and T are given as input to the program.

$ 300

invested in simple interest for a period of

3

years earns an interest of

$ 18

, then the percentage rate of interest is

Q. The formula for Simple Interest is

\frac{P T R}{100}

, where
P = Principal
T = Time period in years
R = Rate of interest per annum.

Q. Fill in the blanks.

(i)

P = \frac{100 \times (. . . . . .)}{R \times T}

R = \frac{100 \times SI}{(. . . . . .) \times T}

(iii) At (......)% per annum simple interest a sum doubles itself in 10 years.
(iv) At simple interest a sum becomes

\frac{6}{5}

2 \frac{1}{2}

years. The rate of interest is (......)% per annum.

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