All Interest formulas

Interest is a type of fee paid for assets and money which are borrowed for some time.
Interest is paid as a fee or compensation for the depreciation of money or degradation of assets.
And Simple interest is a method of calculating Interest in which the borrower pays lender a certain percent fee of the original value borrowed, every year or month.
Some importation formulas related to simple interest are:
Simple Interest Formulas:
1. To calculate the total simple interest (S.I.) on a principle amount (P) at a certain rate per annum ( R), after  a certain years of time(T) is calculated using formula:

$S.I. = \dfrac{P\times T\times R}{100}$