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Question
Simple interest on a given amount is always less than or equal to the compound interest on the same amount for the same time period and at the same rate of interest per annum.
Options
True
False
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Solution
This statement is False.
Explanation:
For 1 yr, the simple interest and compound interest for same amount on same rate of interest are equal.
But for 2 yr, the simple interest is less than the compound interest for same amount on same rate of interest.
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