The amount of simple interest during ‘n’ interest period... — Answer & Explanation | PrepBeePakistan

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HomeMCQsChemical Engineering

MEDIUMENGLISHChemical Engineering

The amount of simple interest during ‘n’ interest period is (where, i = interest rate based on the length of one interest period, p = principal) ?

Correct answer: A

Explanation

Simple interest is calculated only on the original principal amount. The formula for simple interest (SI) is Principal × Rate × Time.

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