Math, asked by tarushia4455, 1 year ago

What is interest and rate of interest and their formula?

Answers

Answered by dilnaj

1

we have seen that when money is borrowed, extra money is paid to the lender, for the use of the borrowed money for a given period of time at a given rate. The extra money paid Is called INTEREST. In hindi , it is known as "viaj".
The rate at which interest is calculated is called RATE OF INTEREST. Rate is always in percentage.
INTEREST =PRINCIPAL×TIME×RATE /100

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