Step-by-step explanation:
To determine simple interest, we use the formula
![I=Prt](https://tex.z-dn.net/?f=I%3DPrt)
where I is the interest, p is the principal or initial amount, r is the interest rate is in the unit of years and t is the time in years
When the times is 3 years , then we plug in 3 for 't' directly
![I=Pr(3)\\](https://tex.z-dn.net/?f=I%3DPr%283%29%5C%5C)
we know that 1 year = 12 months
Suppose, the time is given in months then we divide time 't' by 12
When the times is 4 months , then we plug in 4 for 't' and divide by 12
![I=\frac{Pr(4)}{12}](https://tex.z-dn.net/?f=I%3D%5Cfrac%7BPr%284%29%7D%7B12%7D)
we know that 1 year = 365 days
Suppose, the time is given in days then we divide time 't' by 365
When the times is 45 days , then we plug in 45 for 't' and divide by 365
![I=\frac{Pr(45)}{365}](https://tex.z-dn.net/?f=I%3D%5Cfrac%7BPr%2845%29%7D%7B365%7D)