Sandeep has two offers. He can invest Rs.15000 for 2 years which will fetch him an interest of 8％p.a or invest the same money for 3years at 612％ p.a. Which is better ?
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Step-by-step explanation:
offer1st
Principal = 15000
Rate of interest = 8 %
Time = 2 year
Simple interest = P × R × T / 100
= 15000 × 8 × 2 / 100
= 2400
offer2nd
Principal = 15000
Rate of interest = 6 %
Time = 3 years
Simple interest = P × R × T / 100
= 15000 × 6 × 3 / 100
= 2700
Offer 2nd is better for sandeep
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