Aptitude - Compound Interest - Discussion

In each of the following questions, a question is asked and is followed by three statements. While answering the question, you may or may not require the data provided in all the statements. You have to read the question and the three statements and then decide whether the question can be answered with any one or two of the statements or all the three statements are required to answer the question. The answer number bearing the statements, which can be dispensed with, if any, while answering the question is your answer.

2. 

What is the compound interest earned at the end of 3 years?

I. 

Simple interest earned on that amount at the same rate and for the same period is Rs. 4500.

II. 

The rate of interest is 10 p.c.p.a.

 III. 

Compound interest for 3 years is more than the simple interest for that period by Rs. 465.

[A]. I and II only
[B]. II and III only
[C]. I and III only
[D]. I and Either II or III only
[E]. Any two of the three

Answer: Option D

Explanation:

  I. gives, S.I for 3 years = Rs. 4500.

 II. gives, Rate = 10% p.a.

III. gives, (C.I.) - (S.I.) = Rs. 465.

Clearly, using I and III we get C.I. = Rs. (465 + 4500).

Thus, II is redundant.

Also, from I and II, we get sum = 100 x 4500 = 15000.
10 x 3

Now C.I. on Rs. 15000 at 10% p.a. for 3 years may be obtained.

Thus, III is redundant.

Either II or III is redundant.


Nitin Agrawal said: (Apr 18, 2012)  
I think the proper option should be "I and Either II or III only"
because I is used always and II or III are optional.

Rahul said: (May 21, 2012)  
Answer should be E.
We can also find the C.I using 2 II and III.
P*{(1+10/100)^3-1}-p*10*3/100=465.
This will give principal amount.
Since rate and time are known, C.I can be calculated.

Gurudas said: (May 19, 2016)  
Yes, the answer should be option E.

Gauravj said: (Jul 10, 2016)  
Agree! the answer should be E.

Pranaya said: (Jul 31, 2016)  
Yes, the answer should be E.

Vipul Singhal said: (Aug 5, 2016)  
Only II can't calculate the compound interest as basic money should be given as data for it.

Ravi Kotecha said: (Aug 6, 2016)  
That's right. It should be E option.

Akhil Teotia said: (Sep 3, 2016)  
Yes, the answer should be option E.

Say said: (Nov 17, 2016)  
The answer should be E.

Faiz said: (Feb 15, 2017)  
Answer should be "E".

Vishal said: (Jun 1, 2017)  
The answer number bearing the statements, which can be dispensed with, if any, while answering the question is your answer.

According to this, the answer should be "any one of the three" (as any one of the statements can be dispensed) which is not given in options.

Rohit said: (May 21, 2018)  
E is the right answer.

Anshuman said: (Jul 20, 2018)  
E is the right option.

Bittu said: (Jul 13, 2019)  
E is the right answer. I too agree.

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