Question

Which of the folllowing is the formula for finding simple interest?

• A. $I=PRT$
• B. $A=P(1+\frac{R}{100}{)}^T$
• C. $A=P(1+\frac{R}{100}{)}^T-P$
• D. None of the above

Answer 1

The correct option is A $I=PRT$

$\text{Simple interest can be found by using}\text{the formula}I=PRT.\text{Here, P = principal,}\text{R = rate of interest (Decimal form),}\text{T = time period}\text{and I = Simple interest.}$