Question

Explain different types of interest rates.​

Answer 1

Answer:

simple interest and compound interest

Explanation:

si=p×r÷100×t cip×(

Answer 2

Different types of interest rates are Simple interest and Compound interest

Explanation:

There are two types of interest . they are simple interest and compound interest .

The formula to calculate Simple interest is \frac{p\times n\times r}{100}

and this calculated on principal amount.

Here P is Principal , N is number of Years , R is the rate of Interest

the formula to calculate Compound interest is  p\times\left(1+\frac r{100}\right)^n

here the interest gets added to the principle and the cumulative is calculated