All of you have learned the formula to calculate the compound interest in your school. Compound and simple interests are among the mathematical applications used in real life for years. At certain ...

Savings accounts will earn interest on the amount of money deposited into the account. The formula to calculate simple interest in a savings account is the deposit amount times the annual interest ...

Source: Flickr user Dafne Cholet. Simple interest refers to interest that's calculated solely based on the principal, and not any interest that has already accrued. The general formula for computing ...

Simple interest refers to interest that's calculated solely based on the principal, and not any interest that has already accrued. The general formula for computing simple interest is: For example, if ...

The value of money is not constant. It changes. When borrowed today, it should be paid tomorrow with an extra charge that is known as INTEREST. There are two types of interest – Simple Interest and ...