Match the following with appropriate time periods.

T = 1 year

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T > 1 year

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Never

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Solution

Simple interest is calculated on the original amount and is given by
$S . I . = \frac{P T R}{100}$

Compound interest is calculated on the principal amount and also on the accumulated interest of the previous years.
A = P × ${[1 + \frac{R}{100}]}^{n}$

So, when compounded anually, at the end of first year, simple interest and compound interest will be equal. After that, the compound interest is always greater than the simple interest.

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