R1 000 is invested at 10% simple interest for three years and R1 000 is invested at 8% compounded annually for three years. Which is a better investment and by how much?
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Simple Intrest =(Principal *rate *time)/100
Compound Interest= principle (1+R/100)^time
put the values in the formula you will get the amount which you have to subtract from principle and the remaining amount which is higher will be better
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