For a compound interested sum which of the following details are necessary?

Principal

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Interest rate

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Time taken to return loan

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Conversion periods

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Solution

The correct options are
A
Principal

B
Interest rate

D
Conversion periods

For a sum whose interest is calculated by compounding, the following things need to be defined:

-Principal

-Rate of interest

-Conversion periods (annual, half-yearly)

The time taken to return the loan is not fixed. Based on the time taken and the other fixed details above, the final interest is calculated.

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