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principal - P

interest - I

rate % - R

time - T

amount -A

THE FORMULA FOR CALCULATING INTEREST

I = P * R* T

---------

100

A = P + I

A = P * R* T

---------

100

i.e., A = P[ 1 + RT]

--------

100

FOR COMPOUND INTEREST:C.I = final amount - original principal

= amount - principal

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