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Doctors Medicines MCQs Q&A

The following question has three statements. Study the question and the statements and decide which of the statement (s) is/are necessary to answer the question. What is the value of A? I) The compound interest earned by investing Rs. A at 10% rate of interest for a year compounded annually is Rs. 600. II) Rs. A when invested at simple interest at some rate of interest for 4 years earns a profit of Rs. 4800. III) Rs. A invested in simple interest at a rate of 20% for 3 years and interest got after 3 years is Rs. 600 more than half of Rs.A.

The following question has three statements. Study the question and the statements and decide which of the statement (s) is/are necessary to answer the question. What is the value of A? I) The compound interest earned by investing Rs. A at 10% rate of interest for a year compounded annually is Rs. 600. II) Rs. A when invested at simple interest at some rate of interest for 4 years earns a profit of Rs. 4800. III) Rs. A invested in simple interest at a rate of 20% for 3 years and interest got after 3 years is Rs. 600 more than half of Rs.A. Correct Answer Either I or III

Formula:

Let P = principal, R = rate of interest and N = time

Simple Interest = PNR/100

Compound interest = P(1 + R/100)n – P

From statement I:

600 = A(1 + 10/100) – A

⇒ A = Rs. 6000

From statement II:

Rate of interest is not given.

From statement III:

⇒ 600 + A/2 = A × 20 × 3/100

⇒ A = Rs. 6000

∴ Either statement I or III only is sufficient to answer. 

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