Question

Consider a scenario where money is invested in two schemes A and B with the following details:

Scheme A: ₹15,000 at 8% for 3 years

Scheme B: ₹8,000 at 15% for 3 years

Based on the information given above,

Instead of calculating simple interest, let’s consider calculating the compound interest in both the scenarios. Will the interest amount be the same for Scheme A and Scheme B? Why?

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Answer 1

Answer:

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Step-by-step explanation:

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