Compound Interest

Ankur Kulhari

Interest (I): It is the extra money paid by the borrower to the owner (lender) as a form of compensation for the use of the money borrowed Compound Interest (CI) CI = P(1+R/100)T – P A = P(1+R/100)T   Where, P= Principle or sum {It is the money borrowed or lent out for a time period T} R=Rate at which …