Class 10 Exam > Class 10 Videos > Simple Interest & Compound Interest
Simple Interest & Compound Interest Video Lecture - Class 10
FAQs on Simple Interest & Compound Interest Video Lecture - Class 10
| 1. What is simple interest? |  |
Ans. Simple interest is a quick and straightforward method of calculating interest on a principal amount. It is calculated by multiplying the principal amount, the rate of interest, and the time period.
| 2. What is compound interest? | |
Ans. Compound interest is a method of calculating interest on a principal amount, where the interest earned is added to the principal amount at regular intervals. This interest is then further used to calculate future interest.
| 3. What is the formula for simple interest? | |
Ans. The formula for calculating simple interest is:
Simple Interest = (Principal Amount * Rate of Interest * Time Period) / 100
| 4. What is the formula for compound interest? | |
Ans. The formula for calculating compound interest is:
Compound Interest = Principal Amount * (1 + (Rate of Interest / 100))^Time Period - Principal Amount
| 5. What is the difference between simple interest and compound interest? | |
Ans. The main difference between simple interest and compound interest lies in the calculation of interest earnings. In simple interest, interest is calculated only on the principal amount, while in compound interest, interest is calculated on both the principal amount and the accumulated interest. This makes compound interest higher than simple interest for the same principal amount, interest rate, and time period.
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Dec 23, 2024 Last updated |
Simple Interest & Compound Interest for Class 102024 is part of Class 10 preparation. The notes and questions for Simple Interest & Compound Interest
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