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CBSE Class 8 Answered

compound interest
Asked by kpy44037 | 09 Jun, 2021, 06:43: AM
answered-by-expert Expert Answer
Compound interest is the interest calculated on the principal and the interest accumulated over the previous period. It is different from the simple interest where interest is not added to the principal while calculating the interest during the next period. 

The compound interest formula is given as: Compound Interest = Amount – Principal

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