December 2020
Intermediate to advanced
255 pages
9h 16m
English
Content preview from Pearson IIT Foundation Class 6 Mathematics by Pearson
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Chapter 6
6.8
SIMPLE INTEREST
Interest is the money paid by a borrower to the lender which is received by the lender for a
specic time period until repayment is done.
Example: If person A borrows ` 100 from person B, for a period of one year on the condition
that he would repay ` 110 at the end of a year, the additional money of `10 is the
interest. A is the borrower and B is the lender and ` 100 is the principal.
The denitions for specic terms which are used frequently are given below:
Principal or Sum
The money borrowed from an agency or an individual for a certain period of time is called the
principal or sum.
Amount
The principal together ...
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