(A) It is the most basic form of calculating interest. (X)
(B) It earns profit not only on principal but also on interest. ()
(C) It is calculated by multiplying principal by rate multiplied by time. (X)
(D) It does not take into account the accumulated interest for calculation. (X)
Answers: Which of the following statement is CORRECT regarding compound interest It earns profit not only on principal but also on interest.