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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Answered by
0
Interest for a year = 390/3 = 130
Let interest rate is x
As per given problem
1000*X/100 + 1500*(x+2)/100 = 130
10X + 15X + 30 = 130
25X = 100
X = 4
Answered by
12
This is your answer mate
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