Question

difference between simple interest and rate of interest​

Answer 1

Answer:

Simple interest is based on the principal amount of a loan or deposit, while compound interest is based on the principal amount and the interest that accumulates on it in every period. Since simple interest is calculated only on the principal amount of a loan or deposit, it's easier to determine than compound interest.

Answer 2

Answer:

simple interest is based on principle amount of aloan or deposite while rate of interest is based on the principle amount and the interest accumulates on it in every period