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      Question

      What is the rate of interest per annum ? I.

      Difference between CI and SI for 2 years on an amount of Rs. 15,000 at the rate is Rs. 96. II. The amount double itself at simple interest in 5 years. Each of the questions below consists of a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statements are sufficient to answer the question. Read both the statements and give answer –
      A If the data in statement I alone is sufficient to answer the question, while the data in statement II alone is not sufficient to answer the question. Correct Answer Incorrect Answer
      B If the data in statement II alone is sufficient to answer the question, while the data in statement I alone is not sufficient to answer the question. Correct Answer Incorrect Answer
      C If the data either in statement I alone or in statement II alone is sufficient to answer the question. Correct Answer Incorrect Answer
      D If the data in both statements I and II together are necessary to answer the question. Correct Answer Incorrect Answer
      E If the data even in both statements I and II together are not sufficient to answer the question. Correct Answer Incorrect Answer

      Solution

      From (i), Difference = PR²/100² ⇒ 96 = (15000 ×R²)/10000 ⇒ R² = (96 ×10000)/15000 = 64 ∴ R = 8% p.a. From (ii), R = (x ×100)/(x × 5) = 20% Hence, we can find the answer from either statement (i) or statement (ii).

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