Answer:
B) Principal: the amount of money you initially invested
Step-by-step explanation:
The given formula I=P·r·t is of Interest
In this formula
I is simple interest
r is the interest rate
t is the amount of time
P is the principle amount invested on which interest is calculated
hence of the given options, option b is correct i.e.
Principal: the amount of money you initially invested !
Answer: Option 'b' is correct.
Step-by-step explanation:
Since we have given that
[tex]I=\dfrac{P\times R\times T}{100}[/tex]
Here, I stands for Simple interest
R stands for rate of interest
T stands for time period
P stands for the principal amount i.e. the amount of money you initially invested.
Hence, Option 'b' is correct.
