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  • Simple & Compound Interest

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    Brijesh Patel
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    Simple interest is calculated on the principal only, while compound interest is calculated on the principal and accumulated interest over time. The formula for simple interest is I = PRT, where I is interest, P is principal, R is interest rate, and T is time. Compound interest allows interest to accrue on prior interest, resulting in faster growth compared to simple interest.

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    Simple interest is calculated on the principal only, while compound interest is calculated on the principal and accumulated interest over time. The formula for simple interest is I = PRT, where I is interest, P is principal, R is interest rate, and T is time. Compound interest allows interest to accrue on prior interest, resulting in faster growth compared to simple interest.

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    © All Rights Reserved
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    9 views2 pages

    Simple & Compound Interest

    Uploaded by

    Brijesh Patel
    Simple interest is calculated on the principal only, while compound interest is calculated on the principal and accumulated interest over time. The formula for simple interest is I = PRT, where I is interest, P is principal, R is interest rate, and T is time. Compound interest allows interest to accrue on prior interest, resulting in faster growth compared to simple interest.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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