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Bharathi borrows an amount of ₹12500 at ...

Bharathi borrows an amount of ₹12500 at 12% per annum for 3 years at a simple interest and Madhuri borrows the same amount for the same time period at 10% per annum, compounded, annually. Who pays more interest and by how much?

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The correct Answer is:
Bharanthi ; ₹. 362.50
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