Formulas for Simple Interest And Compound Interest
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George
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Simple and Compound interest
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When interest is calculated on the principal, or original amount.Then, it is known as Simple Interest.When interest is calculated on the principal amount and also on the interest of previous time periods. Then, it is known as Compound Interest .Compound Interest also known as Interest on interest.
When the Interest is Compounded Annually but Time is in Fraction. Then, the formula Amount = P (1+r/100)^{2 }* (1+(3/2)r/100)\mathbf{(1+ \frac{r}{100})^{2}}\mathbf{(1+ \frac{\frac{3r}{2}}{100})}
SI = \mathbf{\frac{P * R * T}{100}}
Where,
P = money borrowed or lent out for a certain period
r = rate of interest
t = time period for which the amount is lent
Principal = \frac{100 × SI}{R × T }
Rate = \frac{100 × SI}{P × T }
Time = \frac{100 × SI}{R × P }
Read Also – Tips & tricks to solve simple interest & compound interest questions
I can not see simple and compound interest quiz . could you provide me !
Some of the special topics we are provided in the online courses,
so, go through the given link: http://www.prepinsta.com/online-classes