Difference between simple interest and compound interest shortcut formula for n years
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S.I = (P*R*T) divide by 100
C.I = P(1*R/100) ans will multiply how many n that is n at the square place
C.I = P(1*R/100) ans will multiply how many n that is n at the square place
Answered by
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simple interest-- simple interest is a method of calculating the interest charged on a loan which is 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
hope it is helpful
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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
hope it is helpful
plz mark as brainliest
:)
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