What is the primary objective of the "Simple Interest" algorithm?*1 pointa. To calculate interest earned on a principal amount.b. To calculate the roots of a quadratic equation.b. To find the largest among three numbers.

The main mathematical operation to perform when calculating with the simple interest formula is

How is interest calculated?

Implement a program to calculate the Simple Interest by using the formula given below and display the calculated Simple Interest.Simple Interest = (principal*rate of interest*time)/100

Select the function that represents the simple interest formula.A.A(n) = P + (n – 1)i • P, where n is a positive integerB.A(n) = P + (n – 1)i • P, where n is any real numberC.A(n) = P(1 + i)n – 1, where n is a positive integerD.A(n) = P(1 + i)n – 1, where n is any real numberSUBMITarrow_backPREVIOUS

The simple interest formula is I=Prt.  The P represents the principal.  The principal is ___________________.  *1 pointthe percent interest for his yearthe amount of money borrowed or depositedthe amount taxedthe amount of interest