Accountancy Forum

Suppose you have a choice between two accounts, Account A and Account B. Account A provides 5% interest, compounded annually and Account B provides 5.25% simple interest. Consider a deposit of Rs.10, 000 in both accounts.



Requirement

Which account provides a highest balance at the end of five years?
What is the amount of interest on interest?
NOTE You are not required to show the calculations in answer. Be specific and to the point. Only provide one line answer to each question.

Is there any one can counsel me regarding my question?
I am 30yrs old and have around 6 year experience including 2 yr international experience, I have cleared my M.com and studying ACCA now a days I am between two fire that should I go for CA or should continue ACCA. For CA 3 yrs article in essential and stipend is very less, I look after my family as well. Since last two years I am working in dubai. KPMG and Sajjad Haider are the registered firms of ICAP in dubai is there any chance to join it directly and what would be the stipend in dubai.

Please do let me know the answer.

Regards,

Imran