What is the ratio of the simple interest earned on a certain amount at the rate of 21% per annum for 8 years to that earned on the same sum at the same rate for 21 years?
Show answer & explanation
Correct answer: A
Explanation
The Correct Answer is Option 1 i.e. 8 : 21.
Formula used
SI = (Sum * Rate * Year)/100
Given that, the sum is same and the rate is the same in both cases
Hence, the required ratio = 8/21 = 8 : 21