Question

Please help!

Which of the following describes the relationship between the variables of the simple interest formula?


l= P•R•T/100


A) P depends on R and T


B) R depends on P and T


C) l depends on P, R and T


D) R depends on l

Answer 1

The formula is
l= P•R•T/100
Where
I total interest earned
P principle
R interest rate
T time
The answer is
C) l depends on P, R and T

For example
If you deposited 1000 in your account at 10 percent, how much is the simple interest earned after 2 years.
I=1,000×(10÷100)×2
I=200

Hope it helps!