The simple interest on a principal amount, P, borrowed for T years at R% annual interest is given by the following formula. Which of the following describes the relationship between the variables of the simple interest formula?

1. P depends on R and T

2. R depends on P and T

3. I depends on P, R, and T

4. R depends on I

Question

Agustin Fernandez

25 May, 13:27

+1

Answers (1)

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Honey Pie · Answer 1

3.

The formula for the question is

I = P R T

Interest = Principle x Rate x Time