Question

What is P. C. P. A? Where is it used?

Answer 1

Money borrowed by a borrower or the money lend by a lender is called the principal (P). The time for which it is borrowed or lent is called time period (T). The extra money paid by the borrower to the lender is called the interest. Interest is defined as rate (R) per cent per annum (p.c.p.a.).