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Fixed deposit interest is calculated using the simple interest concept

Interest = (principal * no. of years * rate of interest) / 100

principal = the amount you deposited

rate of interest = the amount in %

Ex: Deposit amount - 10,000

Rate of interest = 10%

no of days = 365

Interest = (10000 * 365 * 10) / (365*100) = 1000

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Q: How do you calculate fixed deposit interest?
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Fixed deposit interest is calculated using the simple interest concept Interest = (principal * no. of years * rate of interest) / 100 principal = the amount you deposited rate of interest = the amount in % Ex: Deposit amount - 10,000 Rate of interest = 10% no of days = 365 Interest = (10000 * 365 * 10) / (365*100) = 1000


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