Tag: principal

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What are advantages and disadvantages of Simple Interest and Compound Interest with examples

Advantages and Disadvantages of Simple Interest and Compound Interest Both simple interest and compound interest have their unique advantages and disadvantages. Below is a detailed explanation, including examples. Simple Interest Advantages: Easy to Calculate and Understand: Simple interest is straightforward to calculate using the formula: Simple Interest=(P×R×T)/100 where P is the principal amount, R is the […]

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Solved Examples on Simple Interest

Simple Interest Solved Examples Simple interest is a easy and quick method for calculating the interest charged on a loan or principal amount. The concept of simple interest is famous and used in many sectors such as finance, automobile and banking. Solved examples on simple interest will help us to understand to solve step-by-step different […]

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Simple Interest – Definition – Formula – Examples

Simple Interest: Definition, Examples and Formulas What is interest? First lets understand what is Interest. When we borrow money from a bank, we must pay a fee in addition to the amount borrowed. The extra money we pay is known as the interest. Interest is an additional amount of money that is paid by the […]

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