Multiple choice

Which of the statement gives below are sufficient to answer the following question. What is the rate of interest p.c.p.a.on the amount of $Rs.\ 15000$ taking loan? (1) The difference between $C.I$ & $S.I$ is $Rs.\ 170$ (2) The $S.I$ of $2$ years is $Rs.\ 2500$

  1. Only $I$
  2. Only $II$
  3. Either $I$ or $II$
  4. neither $I$ or $II$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Statement 1: CI-SI for 2 years = P(r/100)^2. With P=15000 and difference=170, r can be found. Statement 2: SI = P*r*t/100. With P=15000, SI=2500, t=2, r can be found. Both are sufficient independently.

AI explanation

Statement I provides the difference between compound interest and simple interest for two years, allowing us to form the equation 15000 * (R/100)^2 = 170 to solve for the rate R. Statement II gives the simple interest directly as Rs. 2500, allowing us to use the formula 2500 = (15000 * R * 2) / 100 to find the rate. Since either equation independently yields the rate of interest, either statement I or statement II is sufficient.

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