Simple interest in the amount of money charged on the amount lent to someone for a specific time period.
Whereas , Compound interest is the addition of interest to the principal sum of a loan . We can also say, it is like interest on a interest.
Thank you :)
Hope it helps you @pakhi6
2 votes Thanks 2
Pprraannaavv
Simple interest in the amount of money charged on the amount lent to someone for a specific time period.
Whereas , Compound interest is the addition of interest to the principal sum of a loan . We can also say, it is like interest on a interest. PLEASE MARK ME AS BRAINLIEST
Answers & Comments
Simple interest in the amount of money charged on the amount lent to someone for a specific time period.
Whereas , Compound interest is the addition of interest to the principal sum of a loan . We can also say, it is like interest on a interest.
Thank you :)
Hope it helps you
@pakhi6
Whereas , Compound interest is the addition of interest to the principal sum of a loan . We can also say, it is like interest on a interest.
PLEASE MARK ME AS BRAINLIEST