Multiple choice

Directions: In this problem, a question is followed by two statements labelled A and B. Read the statements carefully and decide which of the given statements is/are sufficient to answer the question. Choose the correct option accordingly. In how many years will a certain amount double itself at a simple interest? (A) The rate of interest is 5% p.a. (B) The principal amount is Rs. 20,000.

  1. Statement (A) alone is sufficient, but statement (B) alone is not sufficient.

  2. Statement (B) alone is sufficient, but statement (A) alone is not sufficient.

  3. Both statements (A) and (B) together are sufficient, but neither of them alone is sufficient.

  4. Both statements (A) and (B) are sufficient independently.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Simple interest formula: SI = (P * R * T) / 100. To double, SI = P, so P = (P * R * T) / 100, which simplifies to 100 = R * T. If R is known (5%), T can be found. P is irrelevant as it cancels out.

AI explanation

To find the time for a sum to double itself at simple interest, we use the formula Time = 100 / Rate. Statement A provides the rate of interest as 5% p.a., which alone allows us to calculate the time as 100 / 5 = 20 years, making it sufficient. Statement B provides the principal amount as Rs. 20,000, but without the interest rate, it is not sufficient. Therefore, statement A alone is sufficient, but statement B alone is not sufficient.

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