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Subjects>Math>Math & Arithmetic

What is the difference of simple interest and simple discount?

Anonymous

∙ 10y ago

Updated: 10/17/2022

Simple interest refers to interest that is only paid on principal. Simple discount refers to the amount that is deducted from the amount of the loan.

Wiki User

∙ 10y ago

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What is difference between bankers discount and true discount?

The Banker's Gain (BG) is the difference between a banker's discount and a true discount. It is a deduction with simple interest.

What simple interest rate is equivalent to the simple discount rate 6.5 in discounting an amount in 6 months?

.5

What is the formula for difference between simple interest and compound interest?

P(r/100)^2

What is a discount?

A blind discount is defined as the difference in cost between the listed cash price for equipment and the reduced financed amount. It can also be the difference between the list price of a ca and a lower interest rate.

What is a simple interest in math?

Simple interest is interest that is calculated only on the amount of unpaid principal on a loan. Such interest is not added to the value of the loan but is tracked separately. Compound interest is interest that is calculated on the total of unpaid principal and accumulated interest on a loan. The difference is in simple interest there is no interest charged on accumulated interest while in compound interest there is interest charged on accumulated interest.

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