1. Chapter 8 Class 8 Comparing Quantities
  2. Concept wise
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Difference between Simple Interest & Compound Interest Simple Interest In simple interest, interest for all years is same. SI is smaller than CI Formula is Interest = (๐‘ƒ ร— ๐‘… ร— ๐‘‡)/100 Interest is on Principal amount only. Compound Interest In compound interest, interest for all years is different. CI is larger than SI Formula is Amount = P (1+๐‘…/100)^๐‘› Interest is on previous interest as well as the principal amount.

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Davneet Singh
Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 8 years. He provides courses for Maths and Science at Teachoo. You can check his NCERT Solutions from Class 6 to 12.