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    Question

    The amount payable on maturity of a certain sum invested

    for 2 years at the rate of 15% pa. interest compounded 8-monthly is тВ╣ 18,634. What is the simple interest on the same sum for the same period at 5% p.a.?
    A тВ╣1,300 Correct Answer Incorrect Answer
    B тВ╣1,500 Correct Answer Incorrect Answer
    C тВ╣1,200 Correct Answer Incorrect Answer
    D тВ╣1,400 Correct Answer Incorrect Answer

    Solution

    The correct answer is D

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