What do you know about the formula of Simple interest and Compound Interest?
- 1 Answers
- 1247 Views
- IBPS, I also Faced
- E-Mail Answers
Answer Posted / Shivanshu
Simple interest is calculated on the principal amount alone, for a specified time period. The formula for simple interest is I = PRT (where P represents the principal, R the rate, and T the time in years). Compound interest, however, is calculated not only on the principal but also on any accrued interest from previous periods. The formula for compound interest is A = P(1 + R/n)^(nt) (where A represents the final amount, P the principal, R the annual rate, n the number of times the interest is compounded per year, and t the time in years).
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
Iam an MBA student.I need guidance to prepare for AMAZON COMPANY. can u post papers to ammuprathyu@ymail.com
Tell the basic difference between banking and finance?
Which newspaper do you read? Any latest news you can recall?
Tell about yourself and your family background?
What were the headlines in the Financial Times today?
What has the market been doing? Why? What do you think it will do in the coming 12 months?
What is your favorite game?
Can anyone please send me solution document for US payroll . My mail id is rishisharma29@rediffmail.com. Thanks
What do you know about the recent satellite launch?
Have you ever had to bend the rules to get the job done. Why was that?
If you will be an animal in the next birth, what animal you would like to be and why?
What is the penal interest charged in your bank? Have you ever refunded it?
Tell us about your qualification and subjects you studied?
What is repo rate and the current repo rate?
At present who is the prime minister of India?
