Compound interest is the interest calculated on the previous year’s amount. State whether the statement is true (T) or false (F).

True

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False

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Solution

The correct option is A True
The stated statement is true. Compound interest means that the interest on the previous year is liable to more interest.

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Question 49

Compound interest is the interest calculated on the previous year's amount.

Q. Statement

I

: In compound interest, the interest from the previous year contributes to the current year's interest.
Statement

I I

: In simple interest, only the principal amount contributes to the current year's interest.

Question 49

Compound interest is the interest calculated on the previous year's amount.

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Compound interest is the interest calculated on the previous year’s amount. State whether the statement is true (T) or false (F).

The correct option is A TrueThe stated statement is true. Compound interest means that the interest on the previous year is liable to more interest.

The correct option is A True
The stated statement is true. Compound interest means that the interest on the previous year is liable to more interest.