Compound Interest Practice Test 3

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Question : 13 of 40

Marks: +1, -0

What is the ratio of CI on a certain sum at 12% p.a. for 2 years to SI on the same sum at 15% p.a. for the same duration?

106 : 125
117 : 138
125 : 106
138 : 117
Data inadequate

Solution:

CI=P(1+12/100)^2-P

=P(112/100)^2-P

=P(2544/10000)

SI={P×2×15}/100

=P(3/10)

Required ratio

=P(2544/10000):P(3/10)

=106:125

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