Question

What is interest.?????

Answer 1

The additional money paid the borrower to the moneylender in lieu of the money used by him/her is called interest..


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Answer 2

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Here's your best answer =>>>

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Friend !

Look at Interest's definition,

● INTEREST ●

# Money paid regularly at particular rate, for use of money lent or for delaying the repayment of debt, is called as ' INTEREST '.

● TYPES OF INTEREST ●

Generally, Interest is of two types :

1. Simple Interest.
2. Compound Interest.

● FORMULAE OF INTERESTS ●

■ Formula for simple interest -

S.I. = P×R×N / 100

■ Formula for Compound Interest -

P [ 1 + R / 100 ] raised to N or T.

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