ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Interest is the monetary charge for borrowing money-generally expressed as a percentage, such as an annual percentage rate (APR). Interest may be earned by lenders for the use of their funds or paid by borrowers for the use of those funds.

Detailed explanation-2: -Embezzlement refers to a form of white-collar crime in which a person or entity intentionally misappropriates the assets entrusted to them. In this type of fraud, the embezzler attains the assets lawfully and has the right to possess them, but the assets are then used for unintended purposes.

Detailed explanation-3: -Interest-The price of using someone else’s money; the price of borrowing money. Interest rate-The price paid for using someone else’s money, expressed as a percentage of the amount borrowed.

Detailed explanation-4: -The sum of money you deposit into a savings account or borrow from a bank is called the principal. The fee to borrow money is called interest. When you borrow money you pay back the principal and interest to your lender.

Detailed explanation-5: -Interest-The price that people pay to borrow money. When people make loan payments, interest is a part of the payment. Interest Rate-The cost of borrowing money expressed as a percentage of the amount borrowed (principal). Typically, low-risk borrowers with good credit scores pay the lowest interest rates.