The difference between compound interest and simple interest on rs.450

1.	The difference between compound interest and simple interest on rs.45000 at 12%per annum
Answer» ANSWER: The major DIFFERENCE between simple interest and compound interest is that simple interest is based on principal amount WHEREAS compound interest is based on the principal amount and the interest compounded for a cycle of the period. Definition- Simple Interest: The simple interest can be defined as the principal amount of loan or deposit, a person makes into their bank account. Compound Interest: The Compound interest is SIMPLY the interest that accumulates and COMPOUNDS over the principal amount.

The difference between compound interest and simple interest on rs.45000 at 12%per annum

Answer»

The major DIFFERENCE between simple interest and compound interest is that simple interest is based on principal amount WHEREAS compound interest is based on the principal amount and the interest compounded for a cycle of the period.

Definition-

Simple Interest: The simple interest can be defined as the principal amount of loan or deposit, a person makes into their bank account.

Compound Interest: The Compound interest is SIMPLY the interest that accumulates and COMPOUNDS over the principal amount.

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