If money is left in a bank or building society for more than one year, then the amount of interest earned has to increase. Remember - this is simple interest. It is different from compound interest.

If you put money into a bank or building society they will pay you interest on this money. If you have borrowed money, from a bank or building society for a mortgage or other loan, you have to pay ...

The value of money is not constant. It changes. When borrowed today, it should be paid tomorrow with an extra charge that is known as INTEREST. There are two types of interest – Simple Interest and ...