Multiple choice

In the following questions, two equations Quantity I and Quantity II are given. You have to solve both the equations and give answer. Quantity I: The difference between the compound interest and the simple interest on an amount of Rs.32000 in two years is Rs.320. find the rate of interest? Quantity II : An amount triples itself at simple interest in 14 years. find the rate of interest?

  1. Quantity I < Quantity II

  2. Quantity I ≤ Quantity II

  3. Quantity I > Quantity II

  4. Quantity I ≥ Quantity II

  5. Quantity I = Quantity II or Relation cannot be establish
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A Correct answer
Explanation

For Quantity I: Using CI - SI = Pr²/(100)² for 2 years, 320 = 32000×r²/10000, giving r = 10%. For Quantity II: Amount triples means 2P interest, so 2 = r×14/100, giving r = 14.29%. Since 10% < 14.29%, Quantity I < Quantity II.

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