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 ₹ 18,634. What is the simple interest on the same sum for the same period at 5% p.a.?

A ₹1,300
B ₹1,500
C ₹1,200
D ₹1,400
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