Which of the following statement is CORRECT regarding compound interest?
Tap an option to check your answer.
✅ Correct answer: B. It earns profit not only on principal but also on interest.
Option A : It is the most basic form of calculating interest.
Option B : It earns profit not only on principal but also on interest.
Option C : It is calculated by multiplying principal by rate multiplied by tim
Option D : It does not take into account the accumulated interest for calculation.
Option E :
Correct Answer : It earns profit not only on principal but also on interest.
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