Quantitative Aptitude - Simple Interest - Formula & Concept Tutorial
- Principal
The money borrowed or lent out for a certain period is called principal.
- Interest
Extra money paid for using other money is called interest.
- Simple Interest (S.I)
If the interest on a sum borrowed for a certain period is reckoned uniformly, then it is called Simple Interest
S.I ( Simple Interest ) = 
P – Principal Amount
R – Rate Of Interest Per Annum
T - Time In Year
A – Amount / Future Value
- Amount or Future Value that get at the end after investment
Amount = SI ( Simple Interest ) + P ( Principal ) = 
