Question

b) Suppose a certain sum doubles in 2 years at r% rate of simple interest or at R% rate of
interest per annum compounded annually. What can we say about Rand r?
(i) r<R
(ii) R<r
(iv) cannot be determined
(iii) R=r​

Answer 1

Answer:

• ( ii )R < r If the total amount received after 2 yr is same for both simple interest and compound interest on same principal, then the rate of simple interest is greater than the rate of compound interest. i.e.R < r.

Step-by-step explanation:

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