In the following question, three statements are given. You have to find which is/are necessary and sufficient to answer the following question. Find the rate of simple interest per annum. Statement I: Shikha borrowed Rs. 2000 from Suman for two years at simple interest. Statement II: Shikha returned Rs. 2320 to Suman at the end of two years and settled the loan. Statement III: The interest paid by Shikha is Rs. 320.?

Statement I and II together are sufficient to answer the question.
All three statements together are sufficient to answer the question.
Statement III alone or Statement I and II together are sufficient to answer the question.
Statement III alone is sufficient to answer the question.
Any two statements are sufficient to answer the question.

LohaHridoy

4 views

2025-01-04 04:42

1 Answers

AhmedNazir

Option 5 : Any two statements are sufficient to answer the question.

Statement I and Statement II:

Principal = Rs. 2000, Amount = Rs. 2320, Time = 2 years

∴ Interest for 1 year = (2320 - 2000)/2 = 320/2 = Rs 160

∴ Rate of interest = (160/2000) × 100 = 8%

Statement I and Statement III:

∴ Interest for 1 year = 320/2 = Rs. 160

∴ Rate of interest = (160/2000) × 100 = 8%

Statement II and Statement III:

Amount = Rs. 2320, time = 2 years, Interest = Rs. 320

∴ Principal = 2320 - 320 = Rs. 2000

∴ 320 = (2000 × R × 2)/100

∴ Rate of interest = 320/40 = 8%

∴ Any two statements are sufficient to answer the question.

4 views Answered 2022-09-04 04:29

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