Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs. 4000 for 2 years at 10% per annum. The sum placed on simple interest is:
Rs. 1550
Rs. 1650
Rs. 1750
Rs. 2000
Explanation:
| C.I. | = Rs.$ \left(4000 \times\left(1 +\dfrac{10}{100} \right)^2- 4000\right) $ |
| = Rs.$ \left(4000 \times\dfrac{11}{10} \times\dfrac{11}{10} - 4000\right) $ | |
| = Rs. 840. |
| $\therefore$ Sum = Rs.$ \left(\dfrac{420 \times 100}{3 \times 8} \right) $= Rs. 1750. |