The compound interest is always same whether there is a decrease or increase in the rate of interest.
The compound interest changes on decrease or increase in the rate of interest:
A = P × [1+R100]n ( for increment)
A = P × [1−R100]n (for decrement)
The compound interest is always same whether there is a depreciation or appreciation.
Compound interest is the interest calculated on the previous year’s amount. State whether the statement is true (T) or false (F).
State whether the given statement is true or false. The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. The rate of interest per annum is 8%.
Which of the following statements is true? (Rate of interest = R% per annum)