Direction: Each of the following questions is followed by information in three statements. You are to find out which statement(s) is /are sufficient to answer the question and mark your answer accordingly.
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What is the rate of interest percentage per annum ?
I. An amount doubles itself at simple interest in 10 yr.
II. Difference between the compound interest and simple interest on an amount of ₹ 15000 in 2 yr is ₹ 150.
III. The compound interest calculated after 8 yr is more than the amount principle.
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- Only I
- Only II
- Ii and III
- I and III
- Either I or II
Correct Option: E
From Statement I,
SI = PRT/100
⇒ P = (P x R x 10)/100
⇒ R = 10%
From Statement II,
Difference (D) = PR2/(100)2
⇒ 150 = (15000 x R2)/10000
⇒ R = 10%
Thus, either Statement I or II is sufficient.
