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Management Sciences
MEDIUM
ENGLISH
Management Sciences
Which of the following statement is CORRECT regarding compound interest?
A
It is the most basic form of calculating interest.
Option A
It earns profit not only on principal but also on interest.
Correct answer
C
It is calculated by multiplying principal by rate multiplied by time.
Option C
D
It does not take into account the accumulated interest for calculation.
Option D
Correct answer: B
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