Question

Simple interest on a bank loan can be calculated by multiplying the principal times the interest rate times the time. In the formula I=prt, what does I stand for? a. time c. principal b. interest rate d. simple interest

Answer 1

I = interest/simple interest

So your answer is D.

Answer 2

Answer: Option 'D' is correct.

Explanation:

Since we have given that

Principal amount = p

Rate of interest = r

Time = t

Using "Simple Interest ", we know that how to find the simple interest :

`S.I.=(p* R* t)/(100)\\\\S.I=prt,\\\\here,\ r=(R)/(100)`

And we have also given that I = prt.

Equating both the expression, we get that

I denotes "Simple Interest".

Hence, Option 'D' is correct.