Which of the following statement is CORRECT regarding compound interest?

A: It is the most basic form of calculating interest.

B: It earns profit not only on principal but also on interest.

C: It is calculated by multiplying principal by rate multiplied by tim

D: It does not take into account the accumulated interest for calculation.

Check Correct Option

It earns profit not only on principal but also on interest.

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Which of the following statement is CORRECT regarding compound interest?

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