Direction: Each question below is followed by two statements I and II. You are to determine whether the data given in the statement is sufficient for answering the question. You should use the data and your knowledge of Mathematics to choose the possible answer.
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In how many year can a simple interest of ₹6570 be obtained on an amount of ₹ 36500 ?
I. The rate of simple interest is 6% per annum.
II. The difference between the simple interest and compound interest is ₹ 402.084.
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- If the Statement I alone is sufficient to answer the question but the Statement II alone is jot sufficient
- If the Statement II alone is sufficient to answer the question but the Statement I alone is not sufficient
- If both Statement I and II together are needed to answer the question
- If either the Statement I alone or Statement II alone is sufficient to answer the question
- if you cannot get the answer from the Statement I and II together but need even more data
Correct Option: A
Apply the law of Simple Interest.
Simple Interest ( S.I ) = (P x R x T)/100
where Principal amount = P,
Rate of Interest = R% per year and
Time = T years.
Then
T = (S.I x 100)/P x R
From Statement I,
⇒ T = 6570 x 100/36500 x 6
⇒ T = 6570 x 1/365 x 6
⇒ T = 1095 x 1/365
⇒ T= 1095/365
⇒ T= 3 yr
I statement is enough to answer the question. II statement is not enough alone to answer the question.
