Hello friends, Welcome to my blog ‘ Bazaar guruji’ Your Investment Makes You Richer. In case of saving account and fixed deposit or recurring deposit bank provide interest rate one is simple and another one is compound interest. What is simple interest? how to convert into compounding effect? First, we know the procedure of interest calculation. Ø Simple interest: - Let us tack one example you deposit 5,000 In simple interest rate of interest is 10% for 2 years. Interest calculation: - I= PRN/100 I=Interest P= Principle N=Number of Year Ø After one-year interest of 5,000 is 500 and Ø After two-year interest of 5,000 is 500+500=1000 Ø Compound interest: - For comp...