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what is Compound interest and it s formula and what is the difference between simple interest and compound interest

what is Compound interest and it s formula and what is the difference between simple interest and compound interest
 

Grade:8

1 Answers

Saurabh Koranglekar
askIITians Faculty 10335 Points
2 years ago
Dear student

The money that you get on the only the principal amount is simple interest

the money we get on principal, as well as the interest amount, is compound interest


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