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What is simple interst and coumpound interest with formulas and examples

Posted by Kritika Singh 6 years, 8 months ago

CBSE > Class 08 > Mathematics

1 answers

Sia ? 6 years, 8 months ago

Simple interest is a quick and easy method of calculating the interest charge on a loan
Using the simple interest formula: A = P(1 + rt) where P is the Principal amount of money to be invested at an Interest Rate R% per period for t Number of Time Periods.
Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on interest.
Compound interest can be calculated using the formula A = P (1 + r/n)^(nt), entering into it the initial principal amount (P), annual interest rate (r as decimal), time factor (t) and the number of compound periods (n).

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CBSE > Class 08 > Mathematics