Question

Sheetal invests 1,00,000 for a 2 years in deposit scheme that offers 10% simple interest an
1.00,000 in another scheme for 2 years that offers 9% compound interest. In which sa
earn more and how much?​

Answer 1

Answer

S.I=100,000×10×2÷100=20000

Amount=100,000×(1+9÷100)^(2)=118810

Si= 118810-200000=18810

Therefore si is more by rs 1190