Math, asked by moonlightxstarlight1, 5 hours ago

The rate of interest is 15¹/² per annum. what does it mean?​

Answers

Answered by vaibhavragavendran
0

Answer:

If it is Simple interest, Every month we pay 15.5% of the total principal for that year constantly until we repay the loan.

If it is Compound then , for the first year we pay it like the above but from the second year onwards, we include the interest payed in the last year in the principal and pay 15.5% of that total and so on.

Step-by-step explanation:

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