A person lent out ₱ 16 000 on simple interest and the same amount of money on compound interest for 2 years at 12.25% per annum. What is the ratio of the amount received by him as interest after 2 years?
A. 21:17
B. 16:17
C. 14:17
A. 21:17
B. 16:17
C. 14:17
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Answer:
The ratio will be 80 : 81. ... Step-by-step explanation: A person lent out Rs. 16000 on simple interest for 2 years at 12.5% interest per annum.