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Aptitude - Compound Interest - Discussion

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"Nothing in life is to be feared, it is only to be understood."
- Marie Curie

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

Answer: Option

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.

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