Discussion :: Compound Interest
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Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs. 4000 for 2 years at 10% per annum. The sum placed on simple interest is:
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Answer : Option C
Explanation :
C.I.=Rs.[4000\( *(1+\frac { 10 } { 100 } )^2-4000]\)
.=Rs.[4000x\( \frac { 11 } { 10 } \)x\( \frac { 11 } { 10 } \)-4000]
=Rs.840
Sum = Rs.\([ \frac { 420*100 } { 3*8} ]\)= Rs. 1750.
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