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Aptitude - Simple Interest - Discussion

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

What percentage of simple interest per annum did Anand pay to Deepak?

I. 

Anand borrowed Rs. 8000 from Deepak for four years.

 II. 

Anand returned Rs. 8800 to Deepak at the end of two years and settled the loan.

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 the rate be R% p.a.

I gives, P = Rs. 8000 and T = 4 years.

II gives, S.I. = Rs. (8800 - 8000) = Rs. 800.

R = 100 x S.I. = 100 x 800 % = 2 1 % p.a.
P x T 8000 x 4 2

Thus, I and II both are needed to get the answer.

Correct answer is (E).

Discussion:
13 comments Page 2 of 2.
Jeet said:   7 years ago
@Sparsh Chandra.

You are right. Thanks for making me understand this question.
(1)
Anonuyms said:   5 years ago
I guess the 800 interest for the first two years only, so the interest rate should be 5% only.
(11)
PRIYANK said:   3 years ago
@Sparsh Chandra.

Thank you for the explanation.
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