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SBI Exam > Learn Simple Interest & Compound Interest > Mathematics -learning basics of simple interest
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Mathematics -learning basics of simple interest

Gunjan C.
09/08/2023 0 0

Interest is the money paid for the use of money borrowed.  The amount  borrowed  is called principal. The interest  and principal  when summed up is amount.  

Interest on a certain  sum borrowed  for a certain  period is reckoned uniformly  then it is called interest 

I=(P*R*T)/100

AMOUNT = P+I

 

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