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Ramzan lent Rs. 1000 to Shaban at 5% per annum S.I. for 3 years. ...

Law Mathematics Exams Quizzes MCQs Quizzes Law Mathematics Test 3

Question:
Ramzan lent Rs. 1000 to Shaban at 5% per annum S.I. for 3 years. Shaban deposited the money for the same period in a bank account carrying the same rate of interest but compounded yearly. What is Shaban’s gain?

Option A):
13 ½
Option B):
3 5/8
Option C):
7 5/8
Option D):
157 5/8

Correct Answer is Option C):
7 5/8

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