Multiple choice

Each of these questions consists of a question followed by information in three statements. You have to study the question and the statements and decide that information in which of the statement(s) is/are necessary to answer the question. Find the compound interest of 2 years and 3 months compounded annually- Statement I:-If the principal is invested for 3 years at SI it generates a interest equal to 1200 rs. Statement II- CI of second years is 480 Rs. Statement III- CI of third year is 96 Rs more than CI of second year.

  1. Any two

  2. I and (II or III)

  3. II and III

  4. I and III

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

Statement I gives principal and simple interest rate (SI = PRT, so rate = 1200/(3P)). Statement II gives CI for year 2, or Statement III gives CI difference between years 2 and 3. Either II or III with I allows finding rate and calculating CI for 2 years 3 months.

Keep practicing — related questions