Hii Raunak!
The simple interest formula is as follows-
A= P( 1+ rt ).
A=final amount
P= intial principle balance ( money to be invested )
r= nnual interest rate ( P invested at this rate )
t= time (in years) ( number of time period )
Simple interest is used when the interest on a loan or amount is calculated only on the amount initially invested.
Hope this helps.
Good luck!

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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