Multiple choice

What is the rate percent per annum on an amount of Rs 6000 deposited in a Bank? I. The simple interest for four years is Rs 3600. II. The difference between the simple interest and compound interest is Rs 894.0375.

  1. if the statement I alone is sufficient to answer the question, but the statement II alone is not sufficient.

  2. if the statement II alone is sufficient to answer the question, but the statement I alone is not sufficient.

  3. if both statements I and II together are needed to answer the question.

  4. if either the statements I alone or statement II alone is sufficient to answer the question

  5. if we cannot get the answer from the statements I and II together, but need even more data.
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A Correct answer
Explanation

Statement I: SI = 3600 for 4 years on 6000. Using SI = P×R×T/100: 3600 = 6000×R×4/100. R = 3600×100/(6000×4) = 15%. Statement I alone gives rate = 15%. Statement II gives CI-SI difference which requires knowing the rate first and is more complex. Statement I alone is sufficient.

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