Question

2. Simple interest and compound interest on a certain sum of money is same for- a)2nd year b) 1 st year c) 3rd year d) 4th year​

Answer 1

Answer:

option b) 1 st year

if the money is 100 and the interst is 10%

then the simple interst will be 110

and the compound interest will also be 110

but the year will 2 or more then the compound interst will be more then the simple interest