Question
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:
Answer: Option C
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C.I. = Rs. \(\left[4000\times\left(1+\frac{10}{100}\right)^{2}-4000\right]\)
= Rs.\(\left(4000\times\frac{11}{10}\times\frac{11}{10}-4000\right)\)
= Rs. 840.
Sum = Rs. \(\left(\frac{420\times100}{3\times8}\right)= Rs. 1750.\)
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