In this topic we will learn to solve problems which are concerned with finding the interest on the amount that is originally lent, borrowed or invested as well as on the accumulated interest of previous periods.
The first lesson in this topic is an introduction to compound interest with an explanation of the terminologies involved, the formula used to compute compound interest. You will learn about annual and non-annual compounding. And then we have shared some important tips on compound interest. The exercises contain solved question and answers on compound interest. When solving exercises, we recommend you to try solving the problems on your own, that way you will understand better and you can define your own approach to solving problems on compound interest.