Man invested 1000 for 3 years at 11% simple interest per annum and 1000 at 10% compound interest per annum annually for 3 years which investment is better
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Answer:
second investment is better
Step-by-step explanation:
SI =1000×3×11/100=330
CI=1000(1+10/100)^3-1000
=1000×11/10×11/10×11/10-1000
=1331-1000=331
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