Rahim borrowed Rs 10,00 at 12% for 2 years at simple interest and Salim borrowed the same amount at the same rate for the same period compounded annually. Who pays more Interest and by how much
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Rahim borrowed Rs 10,00 at 12% for 2 years at simple interest and Salim borrowed the same amount at the same rate for the same period compounded annually. Who pays more Interest and by how much
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Step-by-step explanation:
both have same amount and same rate and also same time so there is no anyone who paid more.
both will pay equal to 240.