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# # # # Research on Simple Interest (SI)
**Simple Interest (SI)** is a straightforward method for calculating interest on a principal amount over a specified period. Here’s a detailed overview of how it is calculated and its key components.
# # # Definition and Formula
Simple interest is calculated based solely on the principal amount, without compounding. The formula for calculating simple interest is:
**SI = (P × R × T) / 100**
Where:
- **SI** = Simple Interest
- **P** = Principal amount (the initial sum of money)
- **R** = Rate of interest (annual interest rate in percentage)
- **T** = Time (in years)
This formula indicates that the interest earned or paid is directly proportional to the principal, the interest rate, and the time period involved.
