Question

COMPARING THE SIMPLE INTEREST AND COMPOUND NTEREST(COMPOUNDED ANNUALLY)AFTER ONE YEARON A CERTAIN SUM,WE CONCLUDE THATA)simple interest is more B)compound interest is more C)both are same D)none of these

Answer 1

The answer is option C-both are same.
*when a sum of money is kept in bank or borrowed for 1 year then the compound interest and the simple interest is same but when the same sum of money is kept for 2 years or more then the compound interest will be more than the simple interest.

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