When interest is compounded annually, the amount of money accumulated in one year is the same under either a simple or compound interest scenario.

False

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True

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Solution

The correct option is B
True

When the period is 1 year, then CI and SI are the same

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Similar questions

The simple interest on a certain sum of money at 10% per annum is Rs. 6,000 in 2 years.
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(iii) the compound interest earned in 3 years.

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