Multiple choice

What is the initial sum borrowed by Rajeev? I. Final sum is increased by Rs.16800 than initial value at the rate of 7% per annum in 5 years when calculated on simple interest. II. Compound interest on sum becomes Rs 7566 at the rate of 5% in 3 years compounded annually. III. Simple interest on the sum at the rate of 5% per annum in 3 years is Rs 366 less than compound interest.

  1. All three together are sufficient

  2. All three together are not sufficient

  3. Only I or II is sufficient

  4. Any one is sufficient

  5. II and either I or III are sufficient
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Statement I: SI = P×7×5/100 = 16800, so P = 16800×100/35 = 48000. Statement II: CI = P[(1+5/100)^3-1] = 7566, giving P = 7566/0.157625 ≈ 48000. Statement III: SI(5%,3yr)=0.15P, CI(5%,3yr)=0.157625P, difference=0.007625P=366, giving P=366/0.007625≈48000. Each statement alone is sufficient.

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