Hindi, asked by kaursumeet693, 18 days ago

What is simple interest ?

Answers

Answered by rahasohail578

1

Explanation:

Simple interest is based on the principal amount of a loan or the first deposit in a savings account. Simple interest doesn't compound, which means a creditor will only pay interest on the principal amount and a borrower would never have to pay more interest on the previously accumulated interest.

Answered by devekaranvi56

1

Answer:

Simple interest is a quick and easy method of calculating the interest charge on a loan. Simple interest is determined by multiplying the daily interest rate by the principal by the number of days

Explanation:

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