Mathematics · Compound Interest and Simple Interest
A certain sum amounts to Rs. 5,989.50 in 2 years at 15% p.a., interest compounded 8-monthly. What is the simple interest on the same sum for 42⁄3 years at 12% p.a.?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 2,240
- 2Rs. 2,850
- 3Rs. 2,400
- 4Rs. 2,520✓
Correct answer
Rs. 2,520
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