IndiaBIX

Aptitude - Compound Interest - Discussion

Discussion Forum : Compound Interest - Data Sufficiency 1 (Q.No. 3)
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.
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.

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:

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).

Discussion:
6 comments Page 1 of 1.
Sid said:   2 years ago
Simple interest is given = 1200,
So, P=(1200*1000)/8*3 = 5000,

Then we calculate Compound Interest;
CI = 6298.5.
And the difference is 1298.5.
Ugyuugu said:   8 years ago
@Anu what's this?
Len said:   1 decade ago
On solving P= (1200*100) / (8*3).

We get P=5000 only.
Anu said:   1 decade ago
S.I=PxRxT/100

S.Ix100/RxT = P

1200x100
-------- = P
8 x 3

Solving this we get 500.

Why is we getting 5000 :/
Deepa said:   1 decade ago
How 5000 came? Any one please explain.
Sandesh said:   1 decade ago
Can some one help me, I have not understand this problem.
Post your comments here:

Your comments will be displayed after verification.

Quick links
Quantitative Aptitude
Verbal (English)
Reasoning
Programming
Interview
Placement Papers