A man invested 1,000 for three years at 11% simple interest per annum and
1,000 at 10% compound interest per annum compounded annually for three
years. Find which investment is better.
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Answer:
Sl=PNR/Ioo=1000x3x II/100=330
CI = P(I +r/loo)^3-p=looo (I +10/Ioo)^3-1000=331
Difference: 33 I-330=I
The 2nd is better
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