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Review Numbers & Money Exchange│ Unit11084.2 Formula of Simple Interest & AmountTo find the simple interest you should multiply the factorsin the formula beloTo find the total repaid/ received amount add the simple interest tothe principal. The following formula will be useful to find out this:Simple Interest = Principal × Interest Rate × Time SI = P × R × TImportant Points 4-1-1:►Principal is the money invested, deposited or borrowed.►Interest Rate is the percentage ( % ) of the principalcharged per period (year / annual).►Time is the time period of the loan (years, months or days).Principal: ►The general formula for finding the repayment/ total investment amount:Repayment/ total investment amount= Simple interest+ Principal A = SI + POr A = P ( R × T + 8)Or A = ( P x R × T) + PImportant Points 4-1-2:
