Simple interest formula is given by:
Simple Interest = (P x T x R)/100
P is the principle amount
T is the time and
R is the rate
EXAMPLE1: Input : P = 10000 R = 5 T = 5 Output :2500 We need to find simple interest on Rs. 10,000 at the rate of 5% for 5 units of time. EXAMPLE2: Input : P = 3000 R = 7 T = 1 Output :210
The principal is 8 The time period is 6 The rate of interest is 8 The Simple Interest is 3.84
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