Question

What is simple interest and compound interest with example ​

Answer 1

SIMPLE INTEREST

interest is the amount of money charged for borrowing money on the amount of money earned when saving or investing money principal is the amount borrowed aur invested at simple interest is the interest paid only on the principle if the simple interest is added to the principal the sum is called the amount at simple interest for that time if the charge for bowling rupees hundred for 1 year is rupees four we say that interest is paid at the rate of 4% per annum for nursery at 4% as the words per annum are employed if not actually stated .

COMPOUND INTREST

compound interest is the interest paid not only on the principal but also or any interest that has already been has been on every time interest is calculated the interest is added to the principal for future interest calculation that is that is compounded with the principal the money said to be learnt or borrowed at compound interest . photo of egs os ci is given

Answer 2

Answer:

Definition. Simple Interest can be defined as the sum paid back for using the borrowed money, over a fixed period of time. Compound Interest can be defined as when the sum principal amount exceeds the due date for payment along with the rate of interest, for a period of time. Formula. S.I. = (P × T × R) ⁄ 100.