INTEREST The additional money paid by the borrower to the lender for having used his money is called the interest.

The extra money paid by a borrower for using another person's money is called ______.

AMOUNT The total money which the borrower pays back to the lender at the end of the specified period is called the amount.

The money to be paid for using otheRs. money is called__________.

PRINCIPAL The money borrowed by a borrower from a lender is known as the principal or sum.

In return to the right of using the creditor's money for a short time, according to condition, the debtor gives him some extra money. This money is known as Rate of interest.

The percentage by which the money the borrower pays back exceeds the money that was borrowed is called as