SIMPLE INTEREST -; IMPORTANT FORMULAE
1. Principal : The money borrowed or lent out for a certain priod is called the principal of he sum.
2. Interest : Extra money paid for using other’s money is called interest.
3. Simple Interest (S.I.) : If the interest on a sum borrowed for a certain period is reckoned uniformly,
then it is called simple interest.
Let Principal = P, Rate = R% per annum (p.a.) and Time = T years, Then,
(i) S.I. = [P * R * T / 100]
(ii) P = [100 * S.I. / R * T]
R = [100 * S.I / P * T] and T = [100 * S.I. / P * R]
1. Principal : The money borrowed or lent out for a certain priod is called the principal of he sum.
2. Interest : Extra money paid for using other’s money is called interest.
3. Simple Interest (S.I.) : If the interest on a sum borrowed for a certain period is reckoned uniformly,
then it is called simple interest.
Let Principal = P, Rate = R% per annum (p.a.) and Time = T years, Then,
(i) S.I. = [P * R * T / 100]
(ii) P = [100 * S.I. / R * T]
R = [100 * S.I / P * T] and T = [100 * S.I. / P * R]
No comments:
Post a Comment