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The question below is followed by statements I, II, and III. You have to determine whether the data given in the statement is sufficient for answering the question. You should use the data and your knowledge of Mathematics to choose the best possible answer. The difference between the compound interest and simple interest on a certain sum at a certain rate of interest per annum for two years is 204.20. What is the amount received on the sum of compound interest at the same rate of interest at the end of three years. I. The difference between the compound interest and the simple interest on the sum for three years is 804.258. II. The sum becomes Rs. 14528 at the end of one year. III. The compound interest on the sum for two years is 7% more than the simple interest on the sum for two years.

The question below is followed by statements I, II, and III. You have to determine whether the data given in the statement is sufficient for answering the question. You should use the data and your knowledge of Mathematics to choose the best possible answer. The difference between the compound interest and simple interest on a certain sum at a certain rate of interest per annum for two years is 204.20. What is the amount received on the sum of compound interest at the same rate of interest at the end of three years. I. The difference between the compound interest and the simple interest on the sum for three years is 804.258. II. The sum becomes Rs. 14528 at the end of one year. III. The compound interest on the sum for two years is 7% more than the simple interest on the sum for two years. Correct Answer Any one of the statements

Concept:

Simple interest = (Principle × Time × Rate)/100

Compound interest = P ×

Calculation:

Let the sum be P and the rate of interest be R.

⇒ (P × R2)/(100)2 = 204.20      ----(1)

⇒ From (I) alone,

⇒ P × R2(R + 300)/(100)3 = 804.258      ----(2)

⇒ By solving Eq. (1) and (2) we get R and P.

⇒ From statement II alone,

⇒ P × (1 + R/100) = 14528      ----(3)

⇒ By solving Eq. (1) and (3) we get values P and R.

⇒ From statement III alone,

⇒ PR2/1002 = (16/100) × (2PR/100)      ----(4)

⇒ From Eq. (1) and (4) we get values P and R.

⇒ So, any one of them is sufficient to answer the question

∴ The required result will be option 2.

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