Question

what is the difference between simple interest and compound interest pls help me

Answer 1

Simple interest is interest on only the initial amount of money invested at the beggining period added every time period. Compound interest is interest added every time period on the amount of money at that time period.

Answer 2

can u pls explain me with an example

Answer 3

what was the simple interest of on a sum of 1000 rps at 10%p.a for 4 years

Answer 4

rps as in rupees?
1000(1+4*0.1)
=1400

Answer 5

is it simple interest or compound?

Answer 6

wth you giving cat this year or two years later ?

Answer 7

that is simple interest.

Compound interest will be
\[1000(1+0.1)^{4}\]
= 1464.10

Answer 8

i dnt want solutions i know formulae how to calculate them pls help me to make clear abt there concepts

Answer 9

simple interest is only interest based on the original amount.

Answer 10

compound interest is interest based on the initial amount and the interest gained on that amount.

Answer 11

i am always finding little confusion with these things

Answer 12

simple interest grows money linearly, whereas compound interest grows ur money exponentially

do u knw the difference bw linear and exponential ?

Answer 13

no