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Simple interest is a quick method of calculating the interest charge on a loan.It is determined by multiplying  the interest rate by the principal by the total time period.

Simple interest=P*I*N
P is the loan amount
I is the interest rate and
N is the duration of the loan.

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hope this is helpful...................pls mark it as the best
Simple interest is a method of calculating the interest charge on a loan. Its formula is I=P×R×N
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Simple interst is a method of calculating interest on a loan.its formula is SI
SI=PTR by 100 where p=principle,T=time and R=rate
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