New Click here to Enroll for SIDBI MSME Expert Classes by Experts

    Register

    Question

    The following questions are accompanied by three statement A, B and C. you have to determine which statement (s) is /are necessary/ sufficient to answer the question.

    What is rate of interest percent per annum?

    A. The amount becomes Rs.75,712 at compound interest after 2 years. B. The same amount at simple interest becomes Rs.75,600 after 2 years. C. The amount invested is Rs.70,000
    A Only A and B together Correct Answer Incorrect Answer
    B Only C Correct Answer Incorrect Answer
    C Either A and B together or C alone Correct Answer Incorrect Answer
    D Any two of them Correct Answer Incorrect Answer
    E All statements are required Correct Answer Incorrect Answer

    Solution

    From A & C, A = P(1 + `(r)/(100)` [if gte msEquation 12]> r 100 [if !msEquation]-->[endif]-->)² 75712 = 70,000(1 + `(r)/(100)` [if gte msEquation 12]> r 100 [if !msEquation]-->[endif]-->)² [if gte msEquation 12]> 75712 70,000 [if !msEquation]-->[endif]-->`(75712)/(70000)` = (1 +`(r)/(100)` [if gte msEquation 12]> r 100 [if !msEquation]-->[endif]-->)² [if gte msEquation 12]> 104 100 [if !msEquation]-->[endif]-->`(104)/(100)` = 1 +`(r)/(100)` [if gte msEquation 12]> r 100 [if !msEquation]-->[endif]--> R = 4% From B & C, A = P – I 75600 = 70,000 – I I = 75600 – 70,000 I = Rs. 5600 R = `(5600 x 100)/(70000 x 2)` [if gte msEquation 12]> 5600 ×100 70000 ×2 [if !msEquation]-->[endif]-->= 4% p.a From A and B also, we can get the answer.

    Practice Next

    Relevant for Exams: