1. What is principal?
2. What is rate of interest?
3.How is the rate of interest calculated?
4. What is time?
5. What is sum assured?
Answers
Answer:
1 ans. a person who has controlling authority or is in a leading position: such as. a : a chief or head man or woman. b : the chief executive officer of an educational institution.
2 ans. An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed. The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited, or borrowed.
3 ans. Calculate interest amount paid in a specific time period, I = Prt. Calculate the principal amount, P = I/rt. ... For example, on a loan, you want to find your monthly interest rate after one year. In this case, if you put t = 1, you will get the final interest rate as the interest rate per year.Time is the indefinite continued progress of existence and events that occur in an apparently irreversible succession from the past, through the present, into the future. ... Time in physics is operationally defined as "what a clock reads".
4 ans. Time is the indefinite continued progress of existence and events that occur in an apparently irreversible succession from the past, through the present, into the future. ... Time in physics is operationally defined as "what a clock reads".
5 ans. The Sum assured is the total value of the insurance policy's insurance when purchasing it. Under any circumstances, such as a death, the Sum assured will be the amount that is paid by the insurance policy to the customer. The Sum assured amount can vary from person to person
1. It is the amount that you borrow from a lender
2. It is the amount a lender charges for the use of assets expressed as a percentage of principal
3. Simple interest = P*R*T / 100
4. It is the duration within which we have to pay money
5. It is the benefits availed by persons