Question

_____ is the extra amount paid on principle amount?​

Answer 1

❥ Interest is the extra amount paid on principle amount .

$\Large{\blue{\tt{\underline{\underline{Formulas \ for \ finding \ :-}}}}}$

Simple interest

${\sf{Si \: = \: \frac{p \times r \times t}{100}}}$

here,

• Si is Simple interest
• P is principle
• R is rate
• T is time

Compound interest

${\sf{Ci = p(1 + \frac{r}{100} )^{t} - 1}}$

here,

• Ci is compound interest
• P is principle
• R is rate
• T is time

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