Question: Directions: Each of the questions given 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 is sufficient to answer the question. Read both the statements and give answer. [IBPS (PO/MT) 2011]
What is the rate of interest percent per annum?
I. An amount doubles itself in five years at simple interest.
II. Simple interest of Rs. 1600 is obtained in two years on an amount of Rs. 4000
Options:
A) If the data in statement I alone is sufficient to answer the question, while the data in statement II alone is not sufficient to answer the question
B) If the data in statement-II alone is sufficient to answer the question, while the data in statement I alone is not sufficient to answer the question
C) If the data in statement I alone or in statement II alone is sufficient to answer the question
D) If the data in both the statements I and II is not sufficient to answer the question
E) If the data in both the statements I and II together is necessary to answer the question
Show Answer
Answer:
Correct Answer: C
Solution:
- From statement I, Suppose principal amount $ =x $
Then, amount $ =2\times (in5yr) $
Then, $ 2x-x=\frac{x\times r\times t}{100} $
$ x=\frac{x\times r\times 5}{100} $
$ \Rightarrow $ $ r=\frac{100}{5}=20% $
From statement II,
$ 1600=\frac{4000\times r\times 2}{100} $
$ \Rightarrow $ $ r=\frac{1600\times 100}{4000\times 2}=20 $ %
BETA
