What will be the ratio of simple interest earned by a certain amount at the same rate of interest for 12 years and that for 15 years?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 4 : 5.
Simple Interest = (Principal × Rate × Time) ÷ 100
Since Principal and Rate are same, Simple Interest ∝ Time
Ratio = 12 : 15 = 4 : 5