Question

A man invested 1000 for 3 years at 11 % simple interest per annum and ₹1000 at 10% compound interest per annum compounded annually for 3 years. Find which investment is better

Answer 1

Amount of 1st investment = 1000 + 330 = Rs. 1330
Amount of 2nd investment = Rs. 1000*110*110*110/1000000 = Rs. 1331

So in second investment there is more profit hence it is better.

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Answer 2

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