Question 67
What will be the ratio of the interests earned by identical sum of money invested at the same rate of simple interest for 6 years and for 15 years respectively?
Solution
As we know that simple interest = $$\frac{principal\ amount\times rate\ of\ interest\times time}{100}$$
When the principal amount and the rate of interest are the same in both of the cases then the ratio of the interests earned in both of the cases will be equal to the ratio of time duration.
So the ratio of the interests earned = 6 : 15
= 2 : 5
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