Multiple choice

Directions: The question given below is followed by two statements I and II. You are to determine whether the data given in the statements is sufficient to answer the question. You should use the data and your knowledge of Mathematics to choose between the possible answers. Karamjeet invested Rs. 60,000 in schemes A and Rs. 40,000 in scheme B at simple interest. What is his overall profit? I. The rate of interest in both the schemes is same, i.e. 4%, and the profit earned from scheme A is Rs. 4000. II. Time for which money was invested in scheme B is twice the time for which money was invested in scheme A.

  1. The question can be answered by using statement I alone but cannot be answered by using statement II alone.

  2. The question can be answered by using statement II alone but cannot be answered by using statement I alone.

  3. Both statements I and II together are required to answer the question.

  4. The answer can be found by using any of the two statements alone.

  5. Both the statements together are not sufficient to answer the question.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Statement I gives the rate and profit for A, allowing us to find the time for A. Statement II gives the relationship between the times for A and B. We need both to calculate the profit for B and thus the overall profit.

AI explanation

To find the overall profit, which is the total simple interest from both schemes, we need the principal, rate, and time for each. Statement I provides the total interest from scheme A as Rs. 4000, and since the principal is Rs. 60,000 and the rate is 4%, we can calculate the time for scheme A. Statement II provides the relationship that the time period for scheme B is twice the time period for scheme A. Because you need both the specific time for scheme A from statement I and the relative time for scheme B from statement II to calculate the interest from scheme B, both statements I and II together are required to answer the question.

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