What is principle and amount, rate , simple interest and their differences?

Answers (1)

Prinicple(P) is amount that we borrow from any some one for some duration.

Rate(R) is interest in percentage 

Time is T

Simple interest is interest that we get for given principle money after certain time T.

Simple interest is same for every year.

Simple; ; interest ; ; (S.I.); ; =fracP*R*T100

Amount is the  money return after  the end of the certain  time for which it was borrowed.

Amount =(Priniciple+Simple interest)

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