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3 years ago

What is the simplest interest formula? I=p-rt I=Prt I=P+r+t

Mathematics

1 answer:

deff fn [24]3 years ago

3 0

Answer:

I=Prt

Step-by-step explanation:

The simple interest formula is given as;

I = Prt

where I is the simple interest

p is the principal

r is the percentage rate

t is the duration

Simple interest accrues on the principal of either a loan or an investment. This amount is payable after a duration of time.

Principal is the amount borrowed or invested in a business

Rate is the percentage commission to be paid on the amount borrowed

Time is the duration of the borrowing.

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Answer:

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