Question

Write about Compound Interest ? ​

Answer 1

Step-by-step explanation:

• Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on interest. It is the result of reinvesting interest, rather than paying it out, so that interest in the next period is then earned on the principal sum plus previously accumulated interest.

Answer 2

$\sf \large \: Compound \: interest$

If after a fixed period the interest is added to the money lent and the amount has obtained becomes the principal for the next period and then the interest calculated is called Compound interest.

Formulas related to compound interest~~

$\implies\sf \large \: a = p \bigg[{\bigg(1 + \frac{r}{100}\bigg)}^{2} \bigg]$

$\bigstar\sf \large \: p = \bigg[ {\bigg(1 + \frac{r}{100} \bigg)}^{n} - 1 \bigg]$