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    Question

    The question consists of two statements numbered ā€œI

    and IIā€ given below it. You have to decide whether the data provided in the statements are sufficient to answer the question. Find the rate of interest (r). Statement I: A sum becomes four times its original value in 6 years when invested at r% per annum simple interest. Statement II: An investment of ā‚¹2000 at r% per annum compound interest, compounded annually for 2 years, amounts to ā‚¹4500.
    A The data in statement I alone are sufficient to answer the question, while the data in statement II alone are not sufficient to answer the question. Correct Answer Incorrect Answer
    B The data in statement II alone are sufficient to answer the question, while the data in statement I alone are not sufficient to answer the question. Correct Answer Incorrect Answer
    C The data either in statement I alone or in statement II alone are sufficient to answer the question. Correct Answer Incorrect Answer
    D The data given in both statements I and II together are not sufficient to answer the question. Correct Answer Incorrect Answer
    E The data in both statements I and II together are necessary to answer the question. Correct Answer Incorrect Answer

    Solution

    ATQ, Statement I: Let the sum invested be Rs. P According to the question, (P Ɨ r Ɨ 6)/100 = 4P ā€“ P Or, r = 50 So, data in statement I alone is sufficient to answer the question. Statement II: 2000(1 + r/100)2 = 4500 Or, (1 + r/100) = āˆš(9/4) Or, r = 100/2 = 50 So, data in statement II alone is sufficient to answer the question. So data either in statement I alone or in statement II alone are sufficient to answer the question

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