Interest Rate Calculation Quiz

Simple Interest = $PRT/100$ Compound Interest = $P(1 + \frac{R}{100})^T$ Amount after Compound Interest = $P(1 + \frac{R}{100})^T$ Amount after Simple Interest = $P + PRT$

Principal (P) = Initial amount of money invested Rate of Interest (R) = Percentage of the principal amount that is paid as interest Time (T) = Duration for which the money is invested or borrowed Amount (A) = Total sum of money including interest

Fixed Deposit in a Bank = Compound Interest Loan with Simple Interest = Simple Interest Savings Account Interest = Compound Interest Mortgage Loan Interest = Compound Interest

<p>Simple Interest = Interest calculated only on the principal amount for each period Compound Interest = Interest calculated on the initial principal and also on the accumulated interest from previous periods Rate of Interest = Percentage at which interest is calculated on the principal amount Time Period = Duration for which the interest is applied to the principal amount</p> Signup and view all the answers

<p>Simple Interest = $rac{P imes R imes T}{100}$ Compound Interest = $P imes (1 + rac{R}{100})^T$ Amount = $P + SI$ Time = $rac{100 imes SI}{P imes R}$</p> Signup and view all the answers

<p>Principal (P) = The initial amount of money invested or borrowed Rate of Interest (R) = The percentage charged or paid for the use of money Interest = The amount charged for the use of money Time (T) = The duration for which the money is invested or borrowed</p> Signup and view all the answers

<p>Simple Interest = Interest calculated only on the initial amount of money invested or borrowed Compound Interest = Interest calculated on the initial principal and also on the accumulated interest from previous periods Amount = The total sum of money accumulated after n years, including interest Time Period = The duration for which the money is invested or borrowed</p> Signup and view all the answers

<p>Fixed Deposit in a Bank = Compound Interest Loan with Simple Interest = Simple Interest Investment in a Savings Account = Compound Interest Borrowing from a Moneylender = Simple Interest</p> Signup and view all the answers