Question

4. Reena and Ruchira borrowed 3 60,000 and 50,000 respectively for a period of 3 years. Reena paid sin
interest at the rate of 10% p.a.
, while Ruchira paid compound interest at the rate of 10% p.a. compour Ex
annually. Who paid more interest and by how much ?
5. Sangeeta lent 40.960
the interest is compound
interest
​

Answer 1

Answer:

We have to work with money every day. While balancing your checkbook or calculating your monthly expenditures on espresso requires only arithmetic, when we start saving, planning for retirement, or need a loan, we need more mathematics.