SSC CGL Exam > SSC CGL Videos > Quantitative Aptitude for SSC CGL > Tips & Tricks: Compound Interest
Tips & Tricks: Compound Interest Video Lecture | Quantitative Aptitude for SSC CGL
|
314 videos|170 docs|185 tests
|
FAQs on Tips & Tricks: Compound Interest Video Lecture - Quantitative Aptitude for SSC CGL
| 1. What is compound interest and how does it work? |  |
Ans. Compound interest is the interest calculated on both the initial principal and the accumulated interest from previous periods. It is different from simple interest, as it allows the interest to grow over time. Compound interest is calculated based on the principal amount, interest rate, and the compounding period. The more frequently the interest is compounded, the more interest you will earn.
| 2. How can I calculate compound interest? | |
Ans. To calculate compound interest, you can use the formula: A = P(1 + r/n)^(nt), where A is the future value of the investment, P is the principal amount, r is the annual interest rate, n is the number of times the interest is compounded per year, and t is the number of years. By plugging in these values, you can calculate the future value of your investment.
| 3. What is the difference between compound interest and simple interest? | |
Ans. The main difference between compound interest and simple interest is that compound interest includes the accumulated interest from previous periods, while simple interest only calculates interest based on the initial principal. Compound interest allows your investment to grow faster over time, as it compounds the interest over each compounding period.
| 4. How does the compounding period affect compound interest? | |
Ans. The compounding period refers to how often the interest is added to the principal amount. The more frequent the compounding period, the more interest you will earn. For example, if the interest is compounded annually, you will earn interest once a year. However, if the interest is compounded quarterly or monthly, you will earn interest more frequently, resulting in a higher overall return on your investment.
| 5. Can compound interest work against you? | |
Ans. Yes, compound interest can work against you when you have debt instead of investments. If you have a loan or credit card debt, the compound interest will accumulate on the outstanding balance, which can lead to a significant increase in the total amount owed over time. It is important to be mindful of the interest rates and compounding periods when managing debt to avoid excessive interest charges.
About this Video
|
4.60/5 Rating |
|
Nov 22, 2024 Last updated |
Video Description: Tips & Tricks: Compound Interest for SSC CGL 2024 is part of Quantitative Aptitude for SSC CGL preparation.
The notes and questions for Tips & Tricks: Compound Interest have been prepared according to the SSC CGL exam syllabus.
Information about Tips & Tricks: Compound Interest covers all important topics for SSC CGL 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Tips & Tricks: Compound Interest.
Introduction of Tips & Tricks: Compound Interest in English is available as part of our Quantitative Aptitude for SSC CGL for SSC CGL & Tips & Tricks: 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 Tips & Tricks: 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 Tips & Tricks: Compound Interest
Here you can find the meaning of Tips & Tricks: Compound Interest defined & explained in the simplest way possible.
Besides explaining types of Tips & Tricks: Compound Interest theory, EduRev gives you an ample number of questions to practice Tips & Tricks: 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
Sample Paper
,Free
,Semester Notes
,Objective type Questions
,Tips & Tricks: Compound Interest Video Lecture | Quantitative Aptitude for SSC CGL
,Viva Questions
,past year papers
,Tips & Tricks: Compound Interest Video Lecture | Quantitative Aptitude for SSC CGL
,Previous Year Questions with Solutions
,MCQs
,ppt
,Extra Questions
,practice quizzes
,Important questions
,Summary
,Exam
,shortcuts and tricks
,Tips & Tricks: Compound Interest Video Lecture | Quantitative Aptitude for SSC CGL
,mock tests for examination
,study material
,video lectures
;
Study Tips & Tricks: Compound Interest on the App
Students of SSC CGL can study Tips & Tricks: Compound Interest alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Tips & Tricks: 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 Tips & Tricks: 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