RS AggarwalSolutions for Class 7 Maths Chapter 12 Simple Interest

RS Aggarwal Solutions for Class 7 Chapter 12 “Simple Interest” – Simple interest is a quick and easy method of calculating the interest charge on loan. Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments. The standard formula is I = Prt, with “p” being the principal on loan, “r” being the rate at which interest is being charged, and “t” being the time over which interest is being charged. In this connection, we use the following terms principal, interest, amount, and rate.