Fabina borrows rs12,500 at 12% per annum for 3yrs at simple interest and said Radha borrows the same amount for the same time period at10% per annum compounded annually.Who pays more interest and by how much?
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Fabina paid
Monthly 415.18
Total 14946.44
Radha paid
Monthly 403.34
Total 14520.23
So Fabina paid more intrest by 11.84
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