Question

Name the three factors that determine simple interest​

Answer 1

The Interest Rate, The Time And The Principle Amount

Answer 2

Step-by-step explanation:

We know , $\boxed{ \sf{Interest = Principal \times Time \times Rate}}$

Looking at the formula of simple interest , the three factors that determine simple interest should be :

• Principal : The money which is borrowed or deposited is called principal . It is denoted by ' P ' .
• Time : The duration of time for which principal is deposited or borrowed is termed as time period. It is denoted by ' T ' .

• Rate : The condition under which the interest is charged is called rate. It is denoted by ' R ' .

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