Quant Question Of The Day: 229
A sum was lent for an year and another was lent for 2 years at 12% interest rate. Each sum amounted to the same value. The ratio of first sum to second sum is?
- 28:25
- 25:28
- 1:2
- 2:1
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If it is not mentioned in the problem , then it has to be assumed compound interest ?
It will be mentioned in questions of SI CI. (question edited)
I suppose unless it has been mentioned whether it the interest is compounded annually or not, it would be difficult to proceed. Though a way out is you will have to try out both the scenarios but I doubt that would be the case.