What is defined as the interest on a load or principal that is based only on the original amount of the loan or principal? Options: A . &nbspEffective rate of interest B . &nbspNominal rate of interest C . &nbspCompound interest D . &nbspSimple interest

What is defined as the interest on a load or principal that is based only on the

Question

What is defined as the interest on a load or principal that is based only on the original amount of the loan or principal?

Options:

A . Effective rate of interest

B . Nominal rate of interest

C . Compound interest

D . Simple interest

Answer: Option D

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