Multiple choice

Find the rate of interest? Statement I – An amount doubles itself in 8 years in simple interest. Statement II – Difference of simple interest (SI) and compound interest (CI) for 2 years is Rs 220.

  1. Only Statement I alone.

  2. Only Statement II alone.

  3. Both Statements I and II together.

  4. Neither Statement I nor II is sufficient.

  5. Either Statement I or II.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Statement I: Amount doubles in 8 years at simple interest means P × R × 8/100 = P, so R = 12.5%. This uniquely determines the rate. Statement II needs principal amount or rate from Statement I.

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