hey,
The formula for calculating simple interest is as follows:
S.I= (P*R*T)/100
where
S.I= Simple Interest
P=principal amount
R = rate of interest
T =Time of interest
And amount is equal to the sum of Principal amount and Interest calculated.
i.e: A= P+I
where A= amount
P= Principal amount
and,
I = simple interest the formula for which is given above.
I hope this helps.
All the best!
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