If the simple interest on a sum of ₹A at 6% per annum for 2 years is equal to the simple interest on ₹B at 4% per annum for 3 years, then what is the ratio of A to B?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 1:1.
Simple Interest =
For ₹A:
SI = =
For ₹B:
SI = =
Both interests are equal:
⇒ =
⇒ A = B
Ratio A : B = 1 : 1