Question

Afshi and pooja both opened savings accounts with a starting balance of ruppes 31250 on the same day. Afshi bank is paying her using compund intrest but poojas bank is paying her using simple intrest. Both Afshi and ooja are receiving an interest rate of 20% annually. who do you think will have more balance in three years, explain your answer with propper sepds

Answer 1

Step-by-step explanation:

Afshi and pooja both opened savings accounts with a starting balance of ruppes 31250 on the same day. Afshi bank is paying her using compund intrest but poojas bank is paying her using simple intrest. Both Afshi and ooja are receiving an interest rate of 20% annually. who do you think will have more balance in three years, explain your answer with propper sepds