Direction: Each of the questions below consists of a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statements are sufficient to answer the question. Read both the statements and Read both the statements and give answer
-
What is the rate of compound interest on a sum of money?
I. The total compound interest at the end of two years is $ 820.
II. The total simple interest at the same rate on $ 5000 at the end of three years is $ 750.
-
- If the data in statement I alone are sufficient to answer the question, while the data in statement I alone are not sufficient to answer the question.
- If 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
- If the data either in statement I alone or in statement II alone are sufficient to answer the question.
- If the data even in both statements I and II together are not sufficient to answer the question.
- If the data in statement I alone are sufficient to answer the question, while the data in statement I alone are not sufficient to answer the question.
Correct Option: B
As per the given all details in above question , we can say
From statement I , CI in two years = $ 820
From statement II , Principal = $ 5000 , S.I. = $ 750 , Time = 3 years
| Rate = | S.I. | x 100 % | Principal |
| Rate = | 250 | x 100 = 5 % | 5000 |
Hence, 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.
