Mr. Gupta borrowed a sum of money on compound interest. What will be the amount to
be repaid if he is repaying the entire amount at the end of 2 years?
I. The rate of interest is 5 p.c.p.a.
II. Simple interest fetched on the same amount in one year is Rs. 600.
III. The amount borrowed is 10 times the simple interest in 2 years.

Mr. Gupta borrowed a sum of money on compound interest. What will be the amount to
be repaid if he is repaying the entire amount at the end of 2 years?
I. The rate of interest is 5 p.c.p.a.
II. Simple interest fetched on the same amount in one year is Rs. 600.
III. The amount borrowed is 10 times the simple interest in 2 years. Correct Answer II and Either I or III only

   I. gives, Rate = 5% p.a.

 

 II. gives, S.I. for 1 year = Rs. 600.

 

III. gives, sum = 10 x (S.I. for 2 years).

 

 Now I, and II give the sum.

 For this sum, C.I. and hence amount can be obtained.

 Thus, III is redundant.

 Again, II gives S.I. for 2 years = Rs. (600 x 2) = Rs. 1200.

 Now, from III, Sum = Rs. (10 x 1200) = Rs . 12000.

Thus,Rate =100*12002*12000 =5%

Thus, C.I. for 2 years and therefore, amount can be obtained.

Thus, I is redundant.

Hence, I or III redundan
Bissoy MCQ

Related Questions

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