Question

The given question consists of a set of statements. Find out whether the data provided in the statements are sufficient to answer the question and mark the option:

What is the sum of money on which interest is earned?
I. The total simple interest was Rs. 7000 after 7 years.
II. The total of sum and simple interest was double of the sum after 5 years.

• A. I and III only
• B. II and III only
• C. I and II only
• D. Any two of the three
• E. All are required

Answer 1

The correct option is D

Any two of the three

Let the sum be Rs. x.
I. S.I. = Rs. 7000 and T = 7 years.
II. Sum + S.I. for 5 years = 2 $\times$ Sum
Sum = S.I. for 5 years.
S.I. for 7 years = Rs. 7000
$\therefore$ Simple interest for 1 year = Rs.1000

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