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The simple interest on a principal amount, P, borrowed for T years at R% annual interest is given by the following formula. Which of the following describes the relationship between the variables of the simple interest formula?

1.P depends on R and T
2.R depends on P and T
3.I depends on P, R, and T
4.R depends on I

Respuesta :

emmybaby58
3.

The formula for the question is 

I = P R T
Interest = Principle x Rate x Time

Answer:

3. I depends on P, R, and T.

Step-by-step explanation:

We have been given the simple interest formula [tex]I=PRT[/tex], where,

I = Amount of simple interest,

P = Principal amount,

T = Time in years,

R= Interest rate.

The bigger principal amount and higher interest rate for a long period of time will result in big amount of interest, while small principal amount at a smaller interest rate and for a small period of time will result in small amount of interest.

Since amount of interest depends on principal amount, rate and time, therefore, 3rd option is the correct choice.

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