Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:the amount in plan B if the amount of interest earned in two years was Rs. 3508.
25. The time required for a sum of money to amount to five times itself at 16%
simple interest p.a. will be
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Step 1
Simple interest depends on the principal amount of a credit or the first deposit in a savings account. Simple interest doesn't compound, and that implies a creditor will just pay interest on the principal amount and a borrower couldn't have ever to pay more interest on the recently accumulated interest.
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