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

True

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

False

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A
True

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

Suggest Corrections

Similar questions

Q. The ratio of the amount for two years under compound interest annually and for one year under simple interest is

6 : 5

. When the rate of interest is same, then find the value of rate of interest?

Q. The difference between simple interest and compound interest compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is ___

Q. The difference between the compound interest and simple interest on a certain sum of money at

10 %

per annum for

2

years is

R s .500

. Find the sum when the interest is compounded annually.

The simple interest on a certain sum of money at 10% per annum is Rs. 6,000 in 2 years.
Find :

(i) the sum.

(ii) the amount due at the end of 3 years and at the same rate of interest compounded annually.

(iii) the compound interest earned in 3 years.

Dileep and Manoj deposited the same amount under different schemes giving 10% interest. Dileep gets only simple interest, while Manoj gets interest compounded annually. After 2 years, Manoj had 50 rupees more than Dileep. How much money did each deposit?

Join BYJU'S Learning Program

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

The correct option is A True When the period is 1 year, then CI and SI are the same

The correct option is A
True

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