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Three of these are wrong. Find the one that holds.

Exercise and reference answers

Questions
  1. Question
    Three of these statements about the two interests are false.
    Choices
    1. Item
      They agree in the first year
      Correct
      Yes
    2. Explanation
      They diverge from year two.
      Item
      They agree in every year
    3. Explanation
      Compound overtakes simple, not the reverse.
      Item
      Simple interest overtakes compound
    4. Explanation
      Its base grows every year.
      Item
      Compound uses a fixed base

Explanation

Each trap freezes or moves the wrong base. Source: syllabus Maths, Ch 7 Comparing Quantities.
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