Question

What is Compound Interest?

Answer

Compound Interest is that interest which is calculated on the basis of the original sum together with any interest earned in previous periods..$CI=P{\left[1+\frac{r}{100}\right]}^n–1\mathrm{ or }A–P$
$\text{where}$$P=\text{Principal}$
$R=\text{Rate of interest}$
$n=\text{time period}$
$A=\text{Amount with interest}$

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