Discussion Forum



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)

Find the percentage of simple interest per annum did Ram pay to Raj ?

I. Ram borrowed Rs. $8000$ from Raj for $4$ years.

II. Ram returned Rs. $8800$ to Raj at the end of $2$ years and settled the loan.


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 E

Explanation:

Let the rate be $R\%$ p.a.

I gives, $P$ = Rs. $8000$ and $T$ $=4$ years.

II gives, $SI$ = Rs. $(8800-8000)$ = Rs. $800$.

$\therefore R$ $=\left(\frac{100\times SI}{P\times T}\right)$

$=\left(\frac{100\times 800}{8000\times 4}\right)\%$ $=2\frac{1}{2}\%$ p.a.

Thus, I and II both are needed to get the answer.

$\therefore$ Correct answer is (E).