Simple interest on an amount of money for three years at an annual rate of 8% is half the compound interest on Rs. 4000 for two years at a rate of 10%. The amount set aside for simple interest is:
A. Rs. 1550
B. Rs. 1650
C. Rs. 1750
D. Rs. 2000
Answer:C
Simple interest on an amount of money for three years at an annual rate of 8% is half the compound interest on Rs. 4000 for two years at a rate of 10%. The amount set aside for simple interest is:
A. Rs. 1550 B. Rs. 1650 C. Rs. 1750 D. Rs. 2000
Explanation: C.I. = Rs. 4000 x 1 + 10 /100 to the second power - 4000= 4000 x 11/10= 840 rupee,Sum = 420 x 100/3 x 8 = 1750 rupees