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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 β‚Ή 18,634. What is the simple interest on the same sum for the same period at 5% p.a.?
      A β‚Ή1,300 Correct Answer Incorrect Answer
      B β‚Ή1,500 Correct Answer Incorrect Answer
      C β‚Ή1,200 Correct Answer Incorrect Answer
      D β‚Ή1,400 Correct Answer Incorrect Answer

      Solution

      The correct answer is D

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