Question : 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?
Option 1: 8 : 21
Option 2: 21 : 5
Option 3: 5 : 21
Option 4: 21 : 8
Answer (1)
23rd Jan, 2024
Correct Answer: 8 : 21
Solution :
Simple interest is directly proportional to the time given that the principal amount and rate of interest are the same.
So, required ratio = 8 : 21
Hence, the correct answer is 8 : 21.
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