If the simple interest on a sum of ₹x at 6 % p.a. for two years is double the simple interest on another sum of ₹y at 9% per annum for three years, then which of the following is true?
Answer & explanation
Correct answer: option 2
We know ,
Simple Interest = \(\frac{Principal ×Rate × Time }{100}\)
ATQ,
\(\frac{x×6× 2 }{100}\) = 2× \(\frac{y × 9 × 3 }{100}\)
12x = 54y
x = 4.5y