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What is compound interest ? #Comparing …

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What is compound interest ? #Comparing quantities

Posted by Aakanksha Khot 5 years, 2 months ago

CBSE > Class 08 > Mathematics

1 answers

Yogita Ingle 5 years, 2 months ago

Compound interest is the interest calculated on the principal and the interest accumulated over the previous period. It is different from the simple interest where interest is not added to the principal while calculating the interest during the next period. Compound interest finds its usage in most of the transactions in the banking and finance sectors and also in other areas as well. Some of its applications are:

Increase or decrease in population.
The growth of bacteria.
Rise or Depreciation in the value of an item.

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