Free Study Material For RRB Examination
Subject : Mathematics (Simple Interest)
It is the sum which is paid by the borrower to the lender for
using the money for a specific time period. The money borrowed is called the
Principal. The rate at which the interest is calculated on the principal is
called Rate of Interest. The time for which the money is borrowed is Time and
the total sum of principal and interest is called the Amount.
If P = Principal, R = Rate per cent per annum T = Number of
years, SI = Simple Interest and A = Amount.