Question

Find the rate of interest per annum on a sum of money invested? Statement I: The difference between the compound interest and simple interest at the end of 3 years at same rate of interest is Rs 120. Statement II: A compound interest of Rs 7368 is obtained after 4 years of investment.

Q: Answer-&lt;p&gt;Find the rate of interest per annum on a sum of money invested? &lt;strong&gt;Statement I:&...

From I Pr21002 120 From II 7368 P 1 r1003 ndash 1 From I and II we have 2 equations in 2 variables which can be solved to find the rate of interest.

In each of the following questions, a question is followed by two or three statement. Read all the statements and find that which statements are required to answer the question and answer accordingly.

A If the data in statement I alone is sufficient to answer the question.

B If the data in statement II alone is sufficient to answer the question.

C If the data either in statement I alone or statement II alone are sufficient to answer the question.

D If the data given in both I and II together are not sufficient to answer the question.

E If the data in both the statements I and II together are necessary to answer the question.

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Find the rate of interest per annum on a sum of money invested? Statement I: The difference between the compound interest and simple interest at the end of 3 years at same rate of interest is Rs 120. Statement II: A compound interest of Rs 7368 is obtained after 4 years of investment.

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