The simple interest on a sum of ₹ P for T years at R% per annum is given by the formula: Simple Interest = ((P × R × T)/100)

Question

State whether the statement are True or False.

The simple interest on a sum of ₹ P for T years at R% per annum is given by the formula: Simple Interest = ((P × R × T)/100)

Answer 1

True

SI = (P x R X T)/100

We can also write it as,SI = (T x P x R)/100

[since, multiplication is commutative]