Question

Ramu and Shiv both sold a piece of land for 20000. They divided the money in two equal parts. Ramu invested hisv
money in a local bank which calculates simple interest at the rate of 6% per annum. Shiv deposited his money in a
co-operative bank, which calculatess compound interest at 6% per annum. If both of them kept their money in their
respective banks for two years, how much money did each of them get at the end of two years? (Write your answers
upto one decimal place only)​

Answer 1

Answer:

Ramu have 11200

Shiv have 10836

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