CLEAR
Toprankers-Info

+91 7676564400

Mobile App

Get it on Google Play
Discussions
Select Date
Tags:

Articles

Discussions
Submit Discussion
Vinny Grover

· started a discussion

· 1 Months ago

difference between true discount and simple interest?

true discount vs simple interest?

Talented Boy

· commented

· 1 Months ago

True Discount is the method of calculation and collection of Interest upfront from the borrower while disbursing the loan at a specific rate of Interest at the same time same rate of interest is considered for calculating interest on interest and transfer the same to customer
Ex: if the loan amount is 10,000 and Interest amount is 1000 and interest on calculated interest amount is 100 During Disbursement of loan ( 10000-1000+100 = 9100) will be given to the borrower.

In Case of simple Interest Method Interest Amount will be calculated and collected on principal expected/outstanding on schedule due dates.

Difference in case of SI method is Interest is collected on Scheduled dates with principal amount and in case of TD Interest amount is collected upfront and Int on Int is provided to customer.
-logo
We at aim to provide most comprehensive content & test for practice which is carefully divided into various chapters and topics to help you focus on your weak areas.Our Practice mock test gives you unmatched analytics to help you realize your strong areas,time management and improvement areas.Our Short & Crisp notes on each topic will help you to quickly revise the topic along with the tips & tricks of the exams.
More About
-Info
-Info

Mobile App

Get it on Google Play
About Us Campus Ambassador Careers Contact Us Refund Policy

All Rights Reserved Top Rankers

User Policy
Disclaimer
Terms & Conditions