Direction: Each of the questions below consists of a question and three statements numbered I, II and III given below it. You have to study the questions and decide the data in which of the statements are sufficient to answer the questions.
-
What is the total compound interest earned at the end of three years?
I. Simple interest earned on that amount at the same rate and for the same period is $ 4500.
II. The rate of interest is 10 p.c.p.a.
III. Compound interest for three years is more than the simple interest for that period by $ 465.
-
- OnlyI and II
- Only II and III
- Only I and III
- Anyone of the three
- Either II or III only.
Correct Option: D
Let, the sum be $ x
From the statements, I and II
| = 4500 | 100 |
⇒ x = $ 15000
| ∴ CI= 15000 |  | 1 + | 10 |  | 3 | - 15000 |
| 100 |
= 19965 - 15000 = $ 4965
From the statements, I and III,
CI − SI = 465
∴ CI = 465 + 4500 = $ 4965
From the statements, II and III,
CI = $ 4965
Hence, any of them can be dispensed with.
