Multiple choice

The questions given below contain two statements giving certain data. You have to decide whether the data given in the statements are sufficient for answering the question? Find the rate of interest? I - The simple interest of any principal for 3 years is 1200 rupees. II – The compound interest of the same principal for 2 years is 820 rupees. Mark answer-

  1. If statement I alone is sufficient but statement II alone is not sufficient.

  2. If statement II alone is sufficient but statement I alone is not sufficient.

  3. If each statement alone (either I or II) is sufficient.

  4. If statement I and II together are not sufficient.

  5. If both statements I and II together are sufficient, but neither statement alone is sufficient.
Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

For simple interest: SI = P × R × T / 100. From statement I: P × R × 3 / 100 = 1200, so PR = 40000. For compound interest: CI = P(1 + R/100)^2 - P = 820. Combining both gives two equations in P and R which can be solved. Neither statement alone gives both P and R, but together they are sufficient.

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