Directions: Each of the questions given below, consists of a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statements is sufficient to answer the question. Read both the statements and give answer. [IBPS (PO/MT) 2011] |
What is the rate of interest percent per annum? |
I. An amount doubles itself in five years at simple interest. |
II. Simple interest of Rs. 1600 is obtained in two years on an amount of Rs. 4000 |
A) If the data in statement I alone is sufficient to answer the question, while the data in statement II alone is not sufficient to answer the question
B) If the data in statement-II alone is sufficient to answer the question, while the data in statement I alone is not sufficient to answer the question
C) If the data in statement I alone or in statement II alone is sufficient to answer the question
D) If the data in both the statements I and II is not sufficient to answer the question
E) If the data in both the statements I and II together is necessary to answer the question
Correct Answer: C
Solution :
From statement I, Suppose principal amount\[=x\] |
Then, amount \[=2\times \,\,(\text{in}\,\,5\,\,yr)\] |
Then, \[2x-x=\frac{x\times r\times t}{100}\] |
\[x=\frac{x\times r\times 5}{100}\]\[\Rightarrow \]\[r=\frac{100}{5}=20%\] |
From statement II, |
\[1600=\frac{4000\times r\times 2}{100}\]\[\Rightarrow \]\[r=\frac{1600\times 100}{4000\times 2}=20\]% |
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