Aptitude - Compound Interest - Discussion
Discussion Forum : Compound Interest - Data Sufficiency 2 (Q.No. 2)
Directions to Solve
Each of the questions given below consists of a question followed by three statements. You have to study the question and the statements and decide which of the statement(s) is/are necessary to answer the question.
2.
What will be the compound interest earned on an amount of Rs. 5000 in 2 years? | |
I. | The simple interest on the same amount at the same rate of interest in 5 years is Rs. 2000. |
II. | The compound interest and the simple interest earned in one year is the same. |
III. | The amount becomed more than double on compound interest in 10 years. |
Answer: Option
Explanation:
P = Rs. 5000 & T = 2 years.
I. S.I. on Rs. 5000 in 5 years is Rs. 2000.
| 5000 x R x 5 | = 2000  R = 8. |
|
| 100 |
Thus I only gives the answer.
Correct answer is (A).
Discussion:
13 comments Page 2 of 2.
GAURAV said:
6 years ago
What about third option?
Karthik NL said:
5 years ago
I think the answer should be [D].
I and III only.
In III as well you'll get an equation with only are as variable. P and T is already given, R can be determined from the equation :
10, 000> 5000[1 + (R/10) ]^10.
I and III only.
In III as well you'll get an equation with only are as variable. P and T is already given, R can be determined from the equation :
10, 000> 5000[1 + (R/10) ]^10.
ASPIRATIONS NSKF said:
3 years ago
Thanks for clearing the concept.
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