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 Directions – : 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.Solution
From A & C, A = P(1 + `(r)/(100)` )² 75712 = 70,000(1 + `(r)/(100)` )² `(75712)/(70000)` = (1 +`(r)/(100)` )² `(104)/(100)` = 1 + `(r)/(100)` 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)` = 4% p.a From A and B also, we can get the answer.
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