What is the principal?
I. The simple interest obtained on the principal after 2 years at 16% rate of interest is Rs 140.8 less than the compound interest obtained on the same principal after 2 years at 16% per annum.
II. The sum becomes double in 10 years at 6% per annum.
III. The compound interest obtained on the principal is Rs 1,830.4 after 2 years at the rate of 8% compounded annually.
From I Given D = 140.8 T = 2 years and rate = 16% ∴ D = PR²/((100)²) 140.8 = (P × 256)/(100 × 100) ∴ P = (140.4 × 100 × 100)/256 = Rs 55,000 From II We cannot find the exact amount of principal. From III CI = 3660.8 T = 2 years , rate = 16% We can find the principal from this statement easily. Hence, either statement I or statement III is sufficient to answer the question.
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