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Find principal and difference between compound …

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Find principal and difference between compound interest and simple interest .when rate is 1/a% and time is 3 years..
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Sia ? 2 years, 2 months ago

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.
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