Ten > Compound Interest

Asked by Basanta · 2 years ago

Bimal deposits Rs 15000 in Sita Finance company and Rs 15000 in Lumbini Finance company at the rate of 12$\rm \%$ per annum. Sita Finance company pays interest compounded half yearly and Lumbini Finance company pays interest compounded yearly. Calculate the interest paid by,

1.  Sita Finance in 2 years.
2.  Lumbini Finance in 2 years. 
3. As a depositor, which finance is best to earn more interest?