What is interest - Definition and Meaning

Interest :

Interest is the money paid for the use of someone else’s money or assets.


Formula :

SI = PRT, where, P – principal, R – Rate of Interest, T – Time of Period

Example :

Borrowed Money = 1000, R = 5%, T=10, SI = 1000 * 5 * 10 / 100 = 500
Integral Interest Rate

Learn what is interest. Also find the definition and meaning for various math words from this math dictionary.


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