Question

Richies borrowed Rs 20000 for 3 yrs at the rate of 8.5% p. a as simple interest while John borrowed the same amount for the same period of time 8% compounded annually ​

Answer 1

Answer:

so Richie will benefit.

Step-by-step explanation:

1700*3=5100 is 8.5 simple int.

so amt is 25100

and compound int AMT will be

25,194