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Question

What is the rate of interest % per annum?

I. The difference between the compound interest and the simple interest on an amount Rs 20,000 in two years is Rs 220.50.

II. The amount doubles itself at simple interest in 7.5 years.

III. The compound interest accrued in 5 years is more than the principal.

A Only I Correct Answer Incorrect Answer
B Only either I or II Correct Answer Incorrect Answer
C Only II Correct Answer Incorrect Answer
D Only III Correct Answer Incorrect Answer
E All are together are necessary Correct Answer Incorrect Answer

Solution

R² = (D × 100²)/P = (220.5 × 10,000)/20000 ∴ R² = √110.25 = 10.5% From II S.I = (P ×R × T)/100 R = (100 × P)/(P × R × 15/2) R = 40/3 years Hence, either statement I or II is sufficient to answer the question.

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