CBSE Class 11-commerce Answered
What is the meaning of Implied Interest?
Asked by gauravshukla1024 | 03 Mar, 2019, 08:38: PM
Expert Answer
When a loan is given to a borrower, interest is charged for such financial service. Sometimes, the interest is not specifically given in the question. Such interest is therefore to be determined based on the repayable amount and the principal loan amount.
The difference between the total amount to be repaid and the loan principal amount is termed as implied interest.
Answered by Surabhi Gawade | 03 Mar, 2019, 08:49: PM
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