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The simple interest is ____ proportional to the principal for fixed time period and interest rate.

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Detailed Solution

The simple interest is directly proportional to the principal for fixed time period and interest rate.
We know that if two quantities

x

and

y

vary in the same way while maintaining a constant ratio between their respective values, then the two quantities are said to be in direct proportion.
i.e.

x y = k,

where k is a constant positive number.
We know that,

Simple Interest = Principal × Interest Rate × Time 100

For fixed time period and interest rate,

Simple Interest Principal = Interest Rate × Time 100 ⇒ Simple Interest Principal = Constant

Therefore, the simple interest is directly proportional to the principal for fixed time period and interest rate.

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