Mathematics · Compound and Simple Interest
The compound interest on a certain sum for 2 years at 15% p.a. is &; 4,634, when the interest is compounded 8-monthly. What will be the simple interest on the same sum for the same period and at the same rate?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1&; 4,440
- 2&; 4,400
- 3&; 4,260
- 4&; 4,200✓
Correct answer
&; 4,200
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