Math, asked by Zxhhyy, 1 year ago

what is the meaning of a simple interest and compound intrest

Answers

Answered by Kusumsahu7

9

Simple interest is based on the principal amount of a loan or deposit, whilecompound interest is based on the principal amount and the interest that accumulates on it in every period. Sincesimple interest is calculated only on the principal amount of a loan or deposit, it's easier to determine than compound interest.

Answered by sourya1794

14

Step-by-step explanation:

Simple interest is based on the principal amount of a loan or deposit, while compound interest is based on the principal amount and the interest that accumulates on it in every period. Since simple interest is calculated only on the principal amount of a loan or deposit, it's easier to determine than compound interest.

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