A bank charges simple interest for Rs. K at the rate of for n2 years. Another bank charges simple interest for Rs. L at the rate of for n3 years and gives the same interest. The ratio between K and L is:
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. rn : 1.
Simple interest = (Principal × Rate × Time)/100.
Simple interest for the first bank = (K × r) × n)/100.
Simple interest for the second bank = (L × r × n)/100.
Given, simple interest for the first bank = simple interest for the second bank.
Therefore,
(K× r× n)/100 = (L × r × n)/100.
K/L = (r × n)/(r × n).
K/L = r × n.
K/L =rn : 1. Therefore, the ratio between K and L is rn : 1. The answer is rn : 1