Multiple choice

Directions: In the following question, a given questions is followed by information in three statements. You have to decide the data in which statement (s) is sufficient to answer the question and mark your answer accordingly. Find the rate of interest? Statement I - The simple interest accrued of Rs. 22500at the end of four years is Rs. 10800. Statement II - The compound interest accrued on the Rs. 22500 at certain time at certain rate is Rs. 5724

  1. Only Statement I alone.

  2. Only Statement II alone.

  3. Both Statements I and II together.

  4. Neither Statement I nor II is sufficient.

  5. Either Statement I or II.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Statement I provides simple interest, principal, and time, which allows for the calculation of the rate. Statement II provides compound interest, principal, and an unspecified time, making it insufficient on its own. Since only Statement I is sufficient, option A is correct.

AI explanation

Statement I provides the principal of 22500, time of 4 years, and simple interest of 10800. The rate can be calculated as (100 multiplied by 10800) divided by (22500 multiplied by 4), which gives 12 percent. Statement II provides the compound interest but lacks the time period, making it impossible to calculate the rate uniquely. Therefore, only Statement I alone is sufficient.

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