## ICSE Class 9 Maths Chapter 2 Compound Interest [Without Using Formula] Revision Notes

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**ICSE** Class 9 Maths Chapter 2 Compound Interest [Without Using Formula] Revision Notes makes it convenient for the students to have an overview of the important concepts and points of ICSE Class 9 and hence, enhances the confidence among them. ICSE Class 9 Maths Chapter 2 Revision Notes by Swiflearn are so far the best and most reliable Revision Notes for ICSE Class 9 Maths. These ICSE Class 9 Maths Chapter 2 Compound Interest [Without Using Formula] Revision Notes are prepared by subject matter experts at Swiflearn to help the students to understand and revise the concepts right from the beginning.

## What is Compound Interest?

The interest for a period gets added to the principal so that the interest for the subsequent period is calculated on this total amount, the amount due at the end of the period becomes the principal sum for the next period.

#### Common Terms used in Compound Interest

P = Principal or money borrowed by the borrower or money lent by the moneylender.

T = Time is the duration in years for which the money is being borrowed.

R = Rate of interest charged per hundred rupees for a year.

I = Interest is the additional money being paid by the borrower to the lender for

having used the lender’s money for a time T

I= (P×R×T)/100

A = Amount is the sum of principal borrowed and the interest due: A = P + I

### ICSE Class 9 Maths Chapter 2 Compound Interest [Without Using Formula] Revision Notes PDF