I. The difference between the compound and simple interest on an amount of Rs.115500 is Rs.415.8 at the end of 2 years. |
II. The simple interest earned at the end of a year is Rs.2420. |
A) if the data in statement I alone are sufficient to answer the question, while the data in statement II alone are not sufficient to answer the question.
B) if the data in statement II alone are sufficient to answer the question, while the data in statement I alone are not sufficient to answer the question.
C) if the data either in statement I alone or in statement II alone are sufficient to answer the question.
D) if the data in both statement I. and II together are not sufficient to answer the question.
E) if the data in both statement I and II together are necessary to answer the question.
Correct Answer: A
Solution :
From I. \[\because \]Difference\[\text{=}\frac{\text{P}{{\text{R}}^{\text{2}}}}{{{\text{(100)}}^{\text{2}}}}\] Or, \[\text{415}\text{.8=115500}\times \frac{{{R}^{2}}}{10000}\] Or, \[{{R}^{2}}=\frac{41580}{1155}=36\] \[\therefore R=6%\] From II. Since principal is not given, we can't find the rate of interest. Hence only statement I is sufficient to answer the question.You need to login to perform this action.
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