Q1
What is the simple interest formula?
ASI = (P×R×T)/100
BSI = P+R+T
CSI = P×R×T
DSI = P÷R÷T
SSCClass 6 (SSC)Mathematics (गणित)Ch 14 · Topic 2
Practice and Revision - Banks and Simple Interest
Let us practise and revise what we learned about banks and simple interest. Banks help us save and borrow money, and simple interest is a wa
Core concept
Simple interest is calculated using the formula SI = (P×R×T)/100, where P is principal, R is rate of interest, and T is time in years.
How it works
Principal (P) is the original amount of money deposited or borrowed, forming the base for interest calculations.
Why it matters
The amount (total money) after simple interest is calculated as Amount = Principal + Simple Interest.
Key detail
Understanding simple interest helps us make informed decisions about savings accounts, loans, and financial planning.
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Quick notes
• Simple Interest formula: SI = (P×R×T)/100.
• P = principal; R = rate; T = time in years.
• Principal: original deposited/borrowed amount.
• It's the base for interest calculation.
• Amount = Principal + Simple Interest.
• This gives total money after interest.
• Understanding SI aids savings decisions.
• It also aids loan and financial planning.