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Aptitude - Compound Interest - Discussion

Discussion Forum : Compound Interest - Data Sufficiency 1 (Q.No. 1)
Compound Interest
Directions to Solve

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.
1.

What is the rate of compound interest?

I. 

The principal was invested for 4 years.

 II. 

The earned interest was Rs. 1491.

I alone sufficient while II alone not sufficient to answer
II alone sufficient while I alone not sufficient to answer
Either I or II alone sufficient to answer
Both I and II are not sufficient to answer
Both I and II are necessary to answer
Answer: Option
Explanation:

Let Principal = Rs. P and Rate = R% p.a. Then,

Amount = Rs. P 1 + R 4
100

C.I. = P 1 + R 4 - 1
100

P 1 + R 4 - 1 = 1491.
100

Clearly, it does not give the answer.

Correct answer is (D).

Discussion:
4 comments Page 1 of 1.
Nikhil jadon said:   5 years ago
@Sougata.

By the formula:-
C.I=Amount(A) - Principle(P).
Hence, P get common. When we apply the Amount(A) formula in of C.I.
Sougata said:   7 years ago
Why it is minus by one?
Akash said:   7 years ago
Because we don't have the value of p and r @Himanshu.
Himanshu said:   8 years ago
Why the answer is both are insufficient to answer?
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