Multiple choice

Directions: Each of the questions below consists of a question and three statements numbered I, II and III given below it. You have to decide whether the data provided in the statements are sufficient to answer the question. Read all the statements and give answer: Find the rate of simple interest per annum. I. Meetu borrowed Rs 9000 from Sneha for two years on simple interest. II. Meetu returned Rs 11700 to Sneha at the end of two years and settled the loan. III. A sum of money becomes double in 20/3 years on simple interest.

  1. The data in statements I alone is sufficient to answer the question, while the data in statement II and II is not sufficient to answer the question.

  2. The data in statements II alone is sufficient to answer the question, while the data in statement II and III is not sufficient to answer the question.

  3. The data in statements I and II together or in statement III alone is sufficient to answer the question.

  4. The data in all the statements I, II and III is not sufficient to answer the question.

  5. The data in all the statements I, II and III together is necessary to answer the question.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Statements I and II give a principal of Rs. 9000, interest of Rs. 2700, and time of 2 years, which determines the rate as 15% per annum. Statement III alone also gives the rate because doubling in 20/3 years means the simple-interest rate is 100/(20/3) = 15%.

AI explanation

To find the rate of simple interest, we need the principal, interest, and time. Statements I and II together provide the principal as Rs. 9000, the time as 2 years, and the amount as Rs. 11700, allowing us to find the interest of Rs. 2700 and use the simple interest formula to calculate the rate. Statement III independently states that a sum doubles in 20/3 years, meaning the interest equals the principal, allowing the rate to be calculated as 100 divided by 20/3, yielding 15% per annum. Therefore, either I and II together or III alone is sufficient to answer the question.

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