Divya sree reddy Tiwari Asked a Question
April 12, 2020 2:20 pmpts 30 pts
Can you clearly define what is simple interest and compound interest. In this problem ,only Annual payment must be found but compound interest and simple interest are also given . Which formula is used to find simple interest and in the calculation of compound interest T = 8 (as per Question),but value is taken as 2. Can you please explain?
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  • Divya sree reddy Tiwari
    Can you clearly define what is simple interest and compound interest.
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    Ujjawal vishal
    simple interest is only paid on principal, while compound interest is paid on the principal plus all of the interest that has previously been earned. Suppose you have ₹100 deposite...
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  • Ujjawal vishal thankyou
    See ,here annual payment means yearly installment...and the formula given is formula for annual installment if rate of interest is simple... and I think 2nd part is not related t...
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  • Divya sree reddy Tiwari
    Given in Q, T is 8 and P is Rs.848, butbfor calculation of C.I, S.I why we took P as x and T as 2 only?
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