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Interest: Extra money paid for using other's money is called interest. Simple Interest (S.I.): If the interest on a sum borrowed for certain period is reckoned uniformly, then it is called simple interest. Let Principal = P, Rate = R% per annum (p.a.) and Time = T years. Then PxRxT 100 100 x S.I. 100 x S.I. 100 x S.I. (ii). P = ;R= and T = . RxT PxT PxR (i). Simple Intereest =

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. The simple interest on a sum of money is Rs. 50. What is the sum? I. The interest rate is 10% p.a. II. The sum earned simple interest in 10 years. 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

E

Answer & Explanation Answer: Option E Explanation: Given : S.I. = Rs. 50. I gives, R = 10% p.a. II gives, T = 10 years. Sum = 100 x S.I. 100 x 50 = Rs. = Rs. 50. TxR 10 x 10

Thus, I and II together give the answer. Correct answer is (E). 2. What is the sum which earned interest? I. The total simple interest was Rs. 7000 after 7 years. II. The total of sum and simple interest was double of the sum after 5 years. 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

E

Answer & Explanation Answer: Option E Explanation: Let the sum be Rs. x. I gives, S.I. = Rs. 7000 and T = 7 years.

II gives, Sum + S.I. for 5 years = 2 x Sum Now, S.I. for 7 years = Rs. 7000. S.I. for 1 year = Rs. 7000 = Rs. 1000. 7

Sum = S.I. for 5 years.

Thus, I and II both are needed to get the answer. Correct answer is (E). 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. 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

E

Answer & Explanation Answer: Option E 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 1 = = 2 % p.a. PxT 8000 x 4 % 2

Thus, I and II both are needed to get the answer. Correct answer is (E). 4. What is the rate of simple interest? I. The total interest earned was Rs. 4000. II. The sum was invested for 4 years. 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

D

Answer & Explanation Answer: Option D Explanation: We know that, R = 100 x S.I. PxT

Now, I gives, S.I. = Rs. 4000. II gives, T = 4 years. But, P is unknown. So, we cannot find R. So, given data is insufficient to get R. Correct answer is (D). 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. 1. What is the principal sum? I. The sum amounts to Rs. 690 in 3 years at S.I. II. The sum amounts to Rs. 750 in 5 years at S.I. III. The rate of interest is 5% p.a. A.I and III only B. II and III only C. I and II only D.I and III only, or II and III only E. Any two of the three

E

Answer & Explanation Answer: Option E Explanation:

Clearly, any of the three will give us the answer. Correct answer is (E).

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