Loading [MathJax]/jax/output/HTML-CSS/jax.js


Each of the questions given below consists of two statements numbered I and II given below it. Please read the questions carefully and decide whether the data provided in the statement(s) is / are sufficient to answer the given question.

1)

What is the compund interest earned by James at the end of 2 years ?

I. Simple interest at the same rate for one year is Rs. 1020 and the rate of interest is 12 p.c.p.a

II. The amount invested is Rs. 8500.


A) I alone sufficient while II alone not sufficient to answer

B) II alone sufficient while I alone not sufficient to answer

C) Either I or II alone sufficient to answer

D) Both I and II are not sufficient to answer

E) Both I and II are necessary to answer

Answer:

Option A

Explanation:

I. S.I. = Rs. 1020, R =12% p.a and T = 1 year.

P =100×S.I.R×T

P = Rs. (100×102012×1) = Rs. 8500.

C.I for 2 years = Rs. [8500×{(1+12100)21}]

II. gives : only P and T

II alone does not give the answer.

Correct answer is (A).