Aptitude - Compound Interest - Discussion

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"Two things are infinite: the universe and human stupidity; and I'm not sure about the universe."
- Albert Einstein

Each of the questions given below consists of a statement and / or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statement(s) is / are sufficient to answer the given question. Read the both statements and

• Give answer (A) if the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question.
• Give answer (B) if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question.
• Give answer (C) if the data either in Statement I or in Statement II alone are sufficient to answer the question.
• Give answer (D) if the data even in both Statements I and II together are not sufficient to answer the question.
• Give answer(E) if the data in both Statements I and II together are necessary to answer the question.

3.

 An amount of money was lent for 3 years. What will be the difference between the simple and the compound interest earned on it at the same rate? I. The rate of interest was 8 p.c.p.a. II. The total amount of simple interest was Rs. 1200.

 [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

Explanation:

Given: T = 3 years.

I. gives: R = 8% p.a.

II. gives: S.I. = Rs. 1200.

Thus, P = Rs. 5000, R = 8% p.a. and T = 3 years.

Difference between C.I. and S.I. may be obtained.

So, the correct answer is (E).

 Sandesh said: (Thu, Mar 17, 2011 07:29:29 AM) Can some one help me, I have not understand this problem.

 Deepa said: (Sun, Jun 26, 2011 07:46:31 AM) How 5000 came? Any one please explain.

 Anu said: (Mon, Aug 1, 2011 12:49:24 PM) S.I=PxRxT/100 S.Ix100/RxT = P 1200x100 -------- = P 8 x 3 Solving this we get 500. Why is we getting 5000 :/

 Len said: (Mon, Oct 22, 2012 10:16:28 PM) On solving P= (1200*100) / (8*3). We get P=5000 only.

 Ugyuugu said: (Tue, Sep 29, 2015 03:23:52 PM) @Anu what's this?