Question

o Sumit invested 6400 at the rate of 10% per annum compounded annual
for 2 years, while
Amit invested the same amount of money at the same rate for the same pe
money at the same rate for the same period of time but on
simple interest. Who got more interest and by how much​

Answer 1

firstly,amit= 6400×10×2/100

=1280

but in sumit = A=P(1+R/100)

6400=p(1+10/100)^2

6400=p(11/10)^2

p=6400×10×10/11×11

p=640000/121

p= 5289.26 is ans