What is compund interest?

Asked by kanshika smart | 4th Mar, 2015, 06:12: PM

Expert Answer:

Compound interest is the interest calculated on the previous year’s amount.

Compound Interest is given as C.I = A – P

Compound interest is the interest calculated on the previous year’s amount.

Compound Interest is given as C.I = A – P = ,

where the interest is compounded k times in a year, P be the principal and the R be the rate of interest per annum.

Answered by  | 4th Mar, 2015, 06:17: PM

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