Raman borrows 12,000 for 3 years at 10.5% per annum simple interest; while Rahul borrows the same amount for the same period at 10% compounded annually. Who pays more and by how much?

a) Raman, 132

b) Raman, 145

c) Rahaul, 158

d) Rahul, 192

View Answer
Option – d.

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