Math, asked by Anonymous, 1 year ago

what is compound interest ??

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Answered by Anonymous

0

Answer:

heya❤

➡️Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on interest.

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Answered by Anonymous

1

HEYA MATE❤

⏬ANSWER⏬

➡ Interest is of two types (i) simple interest (ii) compound interest.

Simple interest :-

When interest is calculated on principle or capital only, that interest is said to be simple interest •

Compound interest :-

After a definite period of time,the interest accrued is added to the principal to get the new principal.For the definite period of time,if the interest is calculated on the new principal,the the interest is called compound interest•

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