Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on $4000 for 2 years at 10% per annum. The sum placed on simple interest is: Choose the correct option:
A) $1750
B) $2250
C) $1250
D) $1500
E) $2000
Compound Interest = (4000 x (1 + 10/100)^2 - 4000)   = 4000 x 11/10 x 11/10 - 4000 = 840   Therefore the sum is 420 x 100/(3 x 8) = 1750.   $1750nswer $1750) $1750
<result>A</result>
Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on $4000 for 2 years at 10% per annum. The sum placed on simple interest is: