Question 50

The ratio of simple interest calculated biennially and quarterly at the same rate of interest for the same time period is _____ [TISSNET 2021].

[The ratio of simple interest calculated per year on a biennial interest rate $$R\%$$ and calculated quarterly at the rate of interest $$R\%$$ per annum, both for 2 years is _____.]

Solution

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Simple Interest biennially = (1/2)*(P*r*2T)/100 = PrT/100

Simple Interest quarterly = (8)*(P*r*T/4)/100 = 2PrT/100

So, Ratio = 1:2

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