Table below is an Quick Recap of the what we saw in the previous blog:
| Simple Interest | Compound Interest | |
|---|---|---|
| Definition | Interest calculated only on the principal amount | Interest calculated on principal and previously earned interest |
| Formula | I = P * R * T | I = (P * (1 + r/n)^(n*t))-P |
| Growth | Linear | Exponential |
This table will be very useful for a quick revision of Simple & Compound Interest Concepts.
Click the below link to test your knowledge on Simple Interest & Compound Interest.
Click HereInstructions:
- Choose Simple Interest/Compound Interest from 'Select test Topic' drop down.
- Each correct selection results in 1 mark.
- Each in-correct selection results in -0.33 mark.
- All the Best
Stay tuned for the next blog !!!