Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / h.r. sreepada bhagi
There are two concepts - Simple interest and Compound
interest. Simple interest is the interest calculated on the
base amount, where as Compound interest refers to Interest
on the Interest earned in the previous period. It's
illustrated below :
Amount of Fixed Deposit for 3 years receivable on maturity -
Rs. 100000 @10% interest calculated annually.
1st year interest Rs.10000/- Simple Interest.
2nd year interest Rs.11000/- Compound Interest.
3rd year interest Rs.12100/- Compound Interest.
The depositor will get Rs.133100/- at the end of 3 years on
maturity of the deposit. Int eh 2nd & 3rd year interest is
calculated on the previous years interest also & it's called
compounding.
| Is This Answer Correct ? | 8 Yes | 0 No |
Post New Answer View All Answers
How Can We Differ Horizental & Vertical Balace Sheet? Explain.
Tell me different branches of accounting?
What are the advantages of double entry system?
Explain what is bank reconciliation?
i am indrani,iam siting for a/c assistance post of muthoot finance..so my question is what kind of question they may ask related to a/c or finance?or other than subject what question can be asked like why do u want to join this co etc.. ?
i had taken one year gap in completing my graduation bcom should it be considered as backlogs i dont have any kt or anything else i have passed all exam in one trial
We have purchased some good from our vendor and we asked them to transport the same to some address but they have raised a debit note to us for transportation instead of invoice. Same like we have given some order to manufacture for developing that product they have charged some amount for that also they have raised the debit note. How to account these type of debit notes in tally..?
Tell us how can you define departmental accounting?
what is difference among credit, loan, advance
I post Optional Voucher in Tally.ERP in which there is deduction of TDS is applied. But when I convert this voucher as regular voucher the TDS entry have to make again why so
What are the different types of gst?
Why current assets Liability said & current Liability Assets said...?at tally ERP9
Explain me the difference between accounting and auditing?
what is special purpose ledger in SAP.. is it required to configure in ECC 6.0 since New GL concept is active?
in what circumstances it is mandatory to calculate the goodwill.
