Multiple choice

What is the rate of interest percent per annum? I. The simple interest of 6 years is 27.5% of principal. II. The simple interest of 10 years is Rs 8420. III. The principal becomes double in 8 years at annual compound interest.

  1. I or III

  2. I and III or II

  3. Any two

  4. Any one

  5. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Statement I: SI for 6 years = 27.5% of principal, so rate = 27.5/6 = 4.58% per annum. Statement III: Principal doubles in 8 years at CI, which matches the same rate. Statement II gives amount but not principal, so it's insufficient alone. Either I or III can give the answer.

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