The simple interest on a sum deposited at 8% p.a. for 8 years is Rs. 1 – McqOptions

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1.	The simple interest on a sum deposited at 8% p.a. for 8 years is Rs. 16,000. What will be the compound interest on the same sum at one fourth of the above rate of interest for 2 years?
A.	Rs. 1,020
B.	Rs. 980
C.	Rs. 1,010
D.	Rs. 1,015
Answer» D. Rs. 1,015

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