Simple Interest

Simple Interest. If the interest on a sum borrowed for a certain period is reckoned uniformly then it is called simple interest. Formula is given as.

Simple Interest SI P T R 100. A P 1 rt. Simple Interest When a person lends money to a borrower the borrower usually has to pay an extra amount of money to the lender.

The simple interest formula for the calculator which is utilized to compute the overall gains accumulated is represented as.

Simple interest is a method of calculating the interest that is charged on fixed deposits savings accounts and loans. Simple interest is used in most of the sectors such as finance banking automobiles and so on. This is the aptitude questions and answers section on Simple Interest with explanation for various interview competitive examination and entrance test. If the principal amount interest rate and the time period are given the simple interest can be easily calculated.