1.

What is the difference between simple interest and compound interest for 2 years at the rate of 5% on Rs.1000?​

Answer» ONG>Answer:

Interest is the cost of borrowing money, where the borrower PAYS a FEE to the lender for the LOAN. ... Simple interest is based on the principal amount of a loan or deposit. In contrast, compound interest is based on the principal amount and the interest that accumulates on it in every period.

Step-by-step explanation:

MARK ME AS BRAINLIST



Discussion

No Comment Found

Related InterviewSolutions