Question

Arvind borrows a sum of ` 2,50,000 at 6% p.a. simple interest for 3 years. On the same day, Asif borrows the same sum on the same rate of interest but compounded annually for 3 years. On this basis answer the following questions. [3] i. Find the interest paid by Arvind. a. ` 35,000 b. ` 55,000 c. ` 45,000 d. ` 40,000

Answer 1

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