Question

what is difference between compound interest and simple interest​

Answer 1

Simple interest is a quick and easy method of calculating the interest charge on a loan.

And

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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Answer 2

compound interest simple interest

1)it is based on the 1) It is based on

principle amount and the principal

the interest that acc amount of a loan

umalated every or deposit.

period.

2)It is comparatively 2) It is very less.

very high.

3)It goes on changing 3) It remain

during the entire constant.

period.

4) It is calculated on 4) It is only

principal +accumulated calculated on

interest. principle.

5) It's formula 5) It's formula

A=P(1+R)/100×N I=P×R×N/100.