Multiple choice

What will be the ratio of simple interest accrued on a certain amount at the same rate of interest for 8 years and that for 12 years?

  1. 2 : 5

  2. 3 : 2

  3. 1 : 3

  4. 2 : 3

  5. NA
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D Correct answer
Explanation

Simple Interest (SI) = (P * R * T) / 100. The ratio of SI for 8 years to SI for 12 years is (P * R * 8 / 100) / (P * R * 12 / 100) = 8 / 12 = 2 / 3.

AI explanation

Using the simple interest formula, the interest for a given time is proportional to the time period, since principal and rate remain constant. Therefore, the ratio of the interest accrued over 8 years to the interest accrued over 12 years is simply the ratio of their time periods. Simplifying the ratio of 8 to 12 gives 2 to 3.

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