The simple interest on a sum is INR 1600 when the rate of interest is – McqOptions

MCQOPTIONS

1.	The simple interest on a sum is INR 1600 when the rate of interest is taken as 6% per year and the time is 4 years. Use this information to compute the approx. compound interest on the same amount of money.
A.	INR 1800
B.	INR 1750
C.	INR 1550
D.	INR 1650
E.	None of these
Answer» C. INR 1550

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