11. Interest
111. Amount
ol Choose the correct alternatives
a. The extra amount paid while returning the
borrowed m
money
is called the.
1. Principal
b. The prin at which an ilan is bought is
known as The
1. Selling prin in. Cost priu
c. of the selling pricu is greater than the
cost priu. It is known as
1. propt
d. The profit % or loss % is always calculated
m. amount
11. Loss
m. interest
on the
1. selling priu
11. lost prin
m. interest
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Answer:
Simple Interest is the rate at which we lend or borrow money. In the following section, we will define the important terms and formulae that will help us solve and understand the questions on the simple interest. We will define the concept of Simple interest and use these formulae and definitions to solve questions that we expect will come from this section. Let us begin with the definitions!