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In the series configuration of the LC circuit, the inductor (L) and capacitor (C) are connected in series, as shown here. The total voltage V across the open terminals is simply the sum of the voltage across the inductor and the voltage across the capacitor.
Parallel Circuit--Advantages would be that, if it were light bulbs that were the output devices linked in parallel, if one bulb broke the others would continue going. Also, the brightness of the bulbs would be greater than the brightness of bulbs in series.