Definition of “simple interest” - English Dictionary

british dictionary

“simple interest” in British English

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simple interestnoun [ U ]

uk /ˌsɪm.pəl ˈɪn.trəst/ us /ˌsɪm.pəl ˈɪn.trɪst/

money that is paid only on an original amount of money that has been borrowed or invested, and not on the extra money that the original amount earns

(Definition of “simple interest” from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)

“simple interest” in Business English

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simple interestnoun [ U ]

uk us FINANCE

interest that is calculated only on the amount of money invested or borrowed and not on the interest that has already been added to it:

If you borrow $1,000 at 12% per annum simple interest without paying back any capital, the interest is $120 at the end of each and every year.

(Definition of “simple interest” from the Cambridge Business English Dictionary © Cambridge University Press)

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