Math, asked by revsspace, 10 months ago

are simple interest and flat rate same?

Answers

Answered by gauravarduino

3

Step-by-step explanation:

Flat Rate Interest is the type of interest that will stays the same on the principal loan amount throughout your loan tenure. ... (Original Loan Amount x Number of Years x Interest Rate Per Annum) ÷ Number of Instalments = Interest Payable Per Instalment. The very simple formula to calculate Flat Rate Interest.

Answered by BRAINLYARMY001

10

Step-by-step explanation:

Flat Rate Interest is the type of interest that will stays the same on the principal loan amount throughout your loan tenure. ... (Original Loan Amount x Number of Years x Interest Rate Per Annum) ÷ Number of Instalments = Interest Payable Per Instalment. The very simple formula to calculate Flat Rate Interest.

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