Simple Interest
P, T, R, I, A · \( I = \frac{PTR}{100} \) · \( A = P + I \)
Name the principal, interest, rate, time and amount
Build the interest formula by the unitary method
Change months into years before using the formula
Work out the amount and the tax on interest
Principal (P): the money borrowed or deposited
Interest (I): the money added later
Rate (R): the interest on Rs 100 for one year
Time (T): the period, written in years
Amount (A): principal and interest in one lump
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