Question

What percentage rate of simple interest per annum did Ashok pay to Sudhir?
(I) Ashok borrowed Rs. 8000 from Sudhir for four years.
(II) Ashok returned Rs. 8800 to Sudhir at the end of two years and settled the loan.

• A. Statement (I) alone is sufficient, but statement (II) alone is not sufficient.
• B. Statement (II) alone is sufficient, but statement (I) alone is not sufficient.
• C. Both statements together are sufficient, but neither statement alone is sufficient.
• D. Each statement alone is sufficient.

Answer 1

The correct option is C Both statements together are sufficient, but neither statement alone is sufficient.

(I) gives P
(II) gives A and T
Now, since $I=A-P$ and $R=\frac{I\times 100}{P\times T}$
Hence, both the statements together are sufficient to answer the question.