Question

What will be the ratio of simple interest earned by certain amount at the same rate of interest for 8 years and that for 12 years?
1. 2 : 3
2. 1 : 2
3. 4 : 3
4. 2 : 1

Answer 1

Correct Answer - Option 1 : 2 : 3

FORMULA USED:

SI = (P × R × T)/100

CALCULATION:

Required ratio = [(P × R × 8)/100] : [(P × R × 12)/100]

= 8 : 12

= 2 : 3