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Basically, simple interest is interest paid on the original principal only nd simple interest is the interest earned not only on the orginal principle but also on the previous interests earned
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what is the different between compound interest and simple interest?
  Simple Interest is the interest on the principal amount for any period of time while the compound interest is the interest on the Principal amount for the first time period and the new principal for the next period becomes the principal amount + simple interest of first year ,  and for third year principal becomes the principal amount of the second year and the Simple interest of second year and the process continues .

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