Name: Rahul Lalwani & Company
Address: B-3, Abhinandan Galaxy, Basantpur, Rajnandgaon, Chhattisgarh, 491441, IN
Telephone: +91-7000629724
Price range: ₹₹

Question 1

What is simple interest?

Accepted Answer

Interest computed only on the original principal, not on accumulated interest. Formula: SI = P × R × T / 100.

Question 2

Where is simple interest used?

Accepted Answer

Most short-term personal and vehicle loans, post office deposits and some bonds use simple interest.

Question 3

How does SI differ from compound interest?

Accepted Answer

Compound interest is calculated on principal plus accumulated interest, leading to faster growth over time.

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