SSC CGL Exam > SSC CGL Videos > Quantitative Aptitude for SSC CGL > Basic concept and Formulas of Compound Interest
Basic concept and Formulas of Compound Interest Video Lecture | Quantitative Aptitude for SSC CGL
|
314 videos|170 docs|185 tests
|
FAQs on Basic concept and Formulas of Compound Interest Video Lecture - Quantitative Aptitude for SSC CGL
| 1. What is compound interest? |  |
Compound interest is the interest calculated not only on the initial principal amount but also on the accumulated interest from previous periods. It means that interest is earned on both the principal amount and the interest earned previously.
| 2. What is the formula for compound interest? | |
The formula for compound interest is given by:
A = P(1 + r/n)^(nt)
Where:
A = the final amount (including principal and interest)
P = the principal amount
r = the annual interest rate (expressed as a decimal)
n = the number of times that interest is compounded per year
t = the time in years
| 3. How is compound interest different from simple interest? | |
Compound interest is different from simple interest because it takes into account the interest earned from previous periods, while simple interest only considers the initial principal amount. Compound interest accumulates over time and results in a higher final amount compared to simple interest.
| 4. How often should compound interest be compounded? | |
The frequency of compounding depends on the terms of the loan or investment. It can be compounded annually, semi-annually, quarterly, monthly, or even daily. The more frequent the compounding, the higher the final amount will be.
| 5. How can compound interest be used to maximize savings or investments? | |
To maximize savings or investments using compound interest, it is essential to consider the interest rate, the compounding frequency, and the time period. By choosing a high-interest rate, frequent compounding, and a longer time period, the final amount can significantly increase. It is advisable to start saving or investing early and regularly to take advantage of compound interest over a longer duration.
Related Exams
About this Video
|
1.7K Views |
|
4.71/5 Rating |
|
Oct 24, 2024 Last updated |
Video Description: Basic concept and Formulas of Compound Interest for SSC CGL 2024 is part of Quantitative Aptitude for SSC CGL preparation.
The notes and questions for Basic concept and Formulas of Compound Interest have been prepared according to the SSC CGL exam syllabus.
Information about Basic concept and Formulas of Compound Interest covers all important topics for SSC CGL 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Basic concept and Formulas of Compound Interest.
Introduction of Basic concept and Formulas of Compound Interest in English is available as part of our Quantitative Aptitude for SSC CGL for SSC CGL & Basic concept and Formulas of Compound Interest in
Hindi for Quantitative Aptitude for SSC CGL course. Download more important topics related with notes, lectures and mock test series for
SSC CGL Exam by signing up for free.
Description
Video Lecture & Questions for Basic concept and Formulas of Compound Interest Video Lecture | Quantitative Aptitude for SSC CGL - SSC CGL full syllabus preparation | Free video for SSC CGL exam to prepare for Quantitative Aptitude for SSC CGL.
Information about Basic concept and Formulas of Compound Interest
Here you can find the meaning of Basic concept and Formulas of Compound Interest defined & explained in the simplest way possible.
Besides explaining types of Basic concept and Formulas of Compound Interest theory, EduRev gives you an ample number of questions to practice Basic concept and Formulas of Compound Interest tests,
examples and also practice SSC CGL tests.
|
314 videos|170 docs|185 tests
|
|
Explore Courses for SSC CGL exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
study material
,Summary
,mock tests for examination
,shortcuts and tricks
,video lectures
,ppt
,Sample Paper
,Previous Year Questions with Solutions
,MCQs
,Extra Questions
,Important questions
,Semester Notes
,Basic concept and Formulas of Compound Interest Video Lecture | Quantitative Aptitude for SSC CGL
,practice quizzes
,Basic concept and Formulas of Compound Interest Video Lecture | Quantitative Aptitude for SSC CGL
,Basic concept and Formulas of Compound Interest Video Lecture | Quantitative Aptitude for SSC CGL
,Viva Questions
,Free
,Objective type Questions
,past year papers
,Exam
;
Study Basic concept and Formulas of Compound Interest on the App
Students of SSC CGL can study Basic concept and Formulas of Compound Interest alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Basic concept and Formulas of Compound Interest,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Basic concept and Formulas of Compound Interest is prepared as per the latest SSC CGL syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup