Question

simple interest and compound interest means?​

Answer 1

Simple interest is calculated on the principal, or original, amount of a loan. Compound interest is calculated on the principal amount and also on the accumulated interest of previous periods, and can thus be regarded as “interest on interest.”

Answer 2

Hey mate!!!
Here's your answer...

Simple Interest is the interest on a certain sum of money calculated on the principal after the whole conversion period.
Compound Interest is the interest in which the interest is added to the given principal to get a new amount. Then it is again added to the interest of that period. And this process keeps on till the given number of conversion periods.

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