If the principal, interest rate, or time in a simple interest problem is doubled, and the other two quanities remain constant, h

Question

bagirrra123 [75]

3 years ago

7

If the principal, interest rate, or time in a simple interest problem is doubled, and the other two quanities remain constant, h

ow does the simple interest amount change?

Mathematics

1 answer:

Alex17521 [72] · Answer 1 · 2022-05-09T05:50:11+03:00

one would say that the simple interest doubles if the period of time is specified in the contract and the contract is still valid, if the interest amount is available anitime and so on.

So if the amount doubles let's say at half time for which the principal was awarded to the bank, by the end of the contract , the interest amount can be double × just increased by 1.5