Question

What is the formula of simple interest?

Answer 1

In general, for Principle $=P$, Rate of Interest $=R$ and Time $=T$ years.

Interest to be paid $\left(I\right)=P\times R\%\times T$ or
$P\times \frac{R}{100}\times T=\frac{PRT}{100}=\frac{PTR}{100}$