What's the actual difference between interest and simple interest ?

Dear Student We know simple interest : Interest payable only on principle amount And Compound interest : Interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan. Compound interest can be thought of as “interest on interest,” So , When we have only given interest that means simple interest , So we can say that interest and simple interest are same things .Regards

  • 1
What are you looking for?