Directions: Write SI if the statement refers to simple interest and Cl if it refers to compound interest. 1. It is the product of principal, rate and time.
2. It is useful for investing since it allows the fund to grow at a faster rate.
3. Most of the car loans are calculated based on it.
4. Computation is very easy and easy to understand.
5. Interest is charged on the principal and the interest amount.
6. Principal and interest growth is rapid and increases at a fast pace.
7. The principal keeps on changing due to the addition of accrued interest in the entire period.
8. The principal is constant.
9. It offers a comparatively high return to the lenders,
10. It is the interest which is a percentage of both principal and accrued interest.​