Aptitude - Compound Interest - Discussion

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.

[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 D

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).


Himanshu said: (May 16, 2016)  
Why the answer is both are insufficient to answer?

Akash said: (Jan 12, 2017)  
Because we don't have the value of p and r @Himanshu.

Sougata said: (Feb 26, 2017)  
Why it is minus by one?

Nikhil Jadon said: (Feb 2, 2019)  
@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.

Post your comments here:

Name *:

Email   : (optional)

» Your comments will be displayed only after manual approval.