Question

find thea difference betweena SI and CI

Answer 1

S.I or simple interest ⇒ a quick method of calculating the interest charge on a loan.

C.I or compound interest ⇒ is the interest on interest. It is the addition of interest to the principal sum of a loan or deposit. It is accrued by reinvesting interest, instead of paying it out. So in the next period, interest is earned on the principal sum plus the previously accumulated interest.

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By PoojaBBSR