Multiple choice

Each question below is followed by two Statements [I] and [II]. You have to determine whether the data given in the statements are sufficient for answering the question. You should use the data and your knowledge of Mathematics to choose between the possible answers. Find the amount invested by Jagriti? [I]. If jagriti invested half of the amount in Yes Bank at 5% p.a. for 3years and half the amount in Kotak Bank at 6% p.a. for 5 year, she got total Rs4500 as Simple Interest. [II] . Jagriti will get 2420 more if she will invest in a bank at 10% p.a. for 3 year at compound interest rather than 10% p.a. for 2 year in same bank at compound interest

  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 Statement [I] and [II] together are needed to answer the question

  4. if either the Statement [I] alone or Statement [II] alone is sufficient to answer the question

  5. if you cannot get the answer from the Statements [I] and [II] together but need even more data
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Statement [I]: P/2 * 0.05 * 3 + P/2 * 0.06 * 5 = 4500. This is one equation with one variable P, so it is sufficient. Statement [II]: P * (1.10^3 - 1) - P * (1.10^2 - 1) = 2420. This is also one equation with one variable P, so it is sufficient.

AI explanation

From statement (I), let the total amount be P; then half is P/2 invested at 5% for 3 years and the other half is P/2 invested at 6% for 5 years. The total interest is (P/2 * 5 * 3 / 100) + (P/2 * 6 * 5 / 100) = 4500, which simplifies to P * (7.5/100 + 15/100) = 4500, allowing you to solve for P, so statement (I) alone is sufficient. From statement (II), the difference between compound interest for 3 years and 2 years is the interest on the amount after 2 years. The equation is P * (1 + 10/100)^2 * (10/100) = 2420, which simplifies to 0.121P = 2420, allowing you to solve for P, so statement (II) alone is sufficient. Either the Statement [I] alone or Statement [II] alone is sufficient to answer the question.

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