Difference between compound interest and simple …

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Difference between compound interest and simple interest

Posted by Janvi Jitani 5 years, 2 months ago

CBSE > Class 08 > Mathematics

2 answers

Yogita Ingle 5 years, 2 months ago

<th colspan="3">Simple Interest and Compound Interest Differences</th>

Parameter	Simple Interest	Compound Interest
Definition	Simple Interest can be defined as the sum paid back for using the borrowed money, over a fixed period of time.	Compound Interest can be defined as when the sum principal amount exceeds the due date for payment along with the rate of interest, for a period of time.
Formula	S.I. = (P × T × R) ⁄ 100	C.I. = P(1+R⁄100)^t − P
Return Amount	The return is much lesser when compared to Compound Interest.	The return is much higher.
Principal Amount	The principal amount is constant	The principal amount keeps on varying during the entire borrowing period
Growth	The growth remains quite uniform in this method.	The growth increases quite rapidly in this method.
Interest Charged	The interest charged on is for the principal amount.	The interest charged on it is for the principal and accumulated interest.

0Thank You

Mohit Kumar 5 years, 2 months ago

Simple interest m jo amount lea hota h.. Ussi pe interest aata h.. Compound interest m interest pe interest aata h

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