Q. Define compound interest !
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Answer:
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Step-by-step explanation:
We know that , if P is principle and I is interest , then the amount A is therefore , given by A = P + I . We recall that if principle remains constant for the entire loan period , then the interest obtained is simple interest .
But if the interest is added with the principle after a specific period of time to form a new principle and the interest for the subsequent period is calculated on the new principle than the interest obtained is called Compound Interest....
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Answer:
COMPOUND INTEREST IS THE INTEREST CALCULATED ON THE INITIAL PRINCIPLE AND ALSO THE ACCUMULATED INTEREST OVER A PERIOD OF TIME
COMPOUND INTEREST IS THE INTEREST CALCULATED ON THE INITIAL PRINCIPLE AND ALSO THE ACCUMULATED INTEREST OVER A PERIOD OF TIMETOTAL AMOUNT ON COMPOUND INTEREST FOR A PRINCIPLE "P" INTEREST "R" AND FOR OVER "T" YEARS IS:
COMPOUND INTEREST IS THE INTEREST CALCULATED ON THE INITIAL PRINCIPLE AND ALSO THE ACCUMULATED INTEREST OVER A PERIOD OF TIMETOTAL AMOUNT ON COMPOUND INTEREST FOR A PRINCIPLE "P" INTEREST "R" AND FOR OVER "T" YEARS IS: AMOUNT=P[1+ R/100] ^{n}