Multiple choice

What is the value of the rate of interest? A. A sum of Rs 8000 is invested at simple interest for 3 years in scheme A which offers a certain rate of interest. Amount obtained from scheme A is equal to the amount obtained when Rs 9000 is invested in scheme B for 2 years at C.I. B. Rate of interest for scheme B is the same as the rate of interest for scheme A.

  1. Statement A alone is sufficient to answer the question but statement B alone is not sufficient to answer the questions.

  2. Statement B alone is sufficient to answer the question but statement A alone is not sufficient to answer the question.

  3. Both the statements taken together are necessary to answer the questions, but neither of the statements alone is sufficient to answer the question.

  4. Either statement A or statement B by itself is sufficient to answer the question.

  5. Statements A and B taken together are not sufficient to answer the question.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Statement A alone: Amount from scheme A = 8000(1 + 3r/100), scheme B = 9000(1 + r/100)^2. Equating gives one equation with one unknown r, sufficient. Statement B just says rates are same, which doesn't give numerical value. Together A and B are needed because A doesn't specify rates are same. Answer C is correct.

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