can some one tell me what is the mathematical theory of simple interest and compound interest?
Answers
Answered by
3
Simple interest-- simple interest is a method of calculating the interest charged on a loan whichis determined by multiplying the daily interest rate by principal by the number of days.
formula-------P×R×T/100
compound interest---- compound interest is calculated on the previous years amount.
formula --- compounded annually= P ( 1+R/100) power n.
compounded half= P(1/200) power 2n
.
I hope it's helps u alot plZ marks as brilliant answer
formula-------P×R×T/100
compound interest---- compound interest is calculated on the previous years amount.
formula --- compounded annually= P ( 1+R/100) power n.
compounded half= P(1/200) power 2n
.
I hope it's helps u alot plZ marks as brilliant answer
ankitalove:
thnx and welcome
Answered by
2
The formula is,
For simple interest,
SI=P*R*T/100
Where P=principal
R=rate of interest
T=time period
For compound interest,
A=P*(1+R/100)^t
Where P=principal
R=Rate of interest
T=time period
A=Amount
Hope this helps!!!
For simple interest,
SI=P*R*T/100
Where P=principal
R=rate of interest
T=time period
For compound interest,
A=P*(1+R/100)^t
Where P=principal
R=Rate of interest
T=time period
A=Amount
Hope this helps!!!
Please please mark as brainliest answer!!!!
thnx and welcome
Similar questions