Question

There is a question followed by three statements. While answering the question, you may or may not require the data provided in all the statements. You have to read, the question and the three statements and then decide whether the question can be answered with any one or two of the statements or all the three statements are required to answer the question. Mr. Gupta borrowed a sum of money on compound interest. What will be the amount to be repaid if he is repaying the entire amount at the end of $2$ years?
$I$. The rate of interest is $5$ p.c.p.a.
$II$. Simple interest fetched on the same amount in one year is $Rs.600$.
$III$. The amount borrowed is $10$ times the simple interest in $2$ years.

• A. $I$ only
• B. $III$ only
• C. $I$ or $II$ only
• D. None of these

Answer 1

Answer: (D)

None of these

Given
I. The rate of interest is 5 p.c.p.a.
II. Simple interest fetched on the same amount in one year is Rs. 600.
III. The amount borrowed is 10 times the simple interest in 2 years.
Now | and || give the sum,
For this sum , C.I and hence amount can be obtained
Thus , ||| is redundant
Again || gives S.I for 2 years =$600\times 2=1200$
Now from ||| ,sum =$10\times 1200=12000$
Thus Rate=$\frac{100\times 1200}{2\times 1200}=5$p.a
Thus ,C.I for 2 years and therefore ,amount can be obtained.
Thus ,| is redundent
Hence either | and II or II and III are sufficient to answer the question