Question

The Given question is followed by two statements A and B. You are to determine whether the data given in the statements is sufficient for answering the question. You should use the data and your knowledge of Mathematics to choose between the possible answers.
What is the rate of interest p.c.p.a on an amount of Rs 15,000 deposited in a Bank?
A The simple interest for three years is Rs 2,700.
B. The difference between the simple interest and compound interest is Rs 165.24.

• A. The statement A alone is sufficient to answer the question, but the statement B alone is not sufficient.
• B. The statement B alone is sufficient to answer the question, but the statement A alone is not sufficient.
• C. Both statements A and B together are needed to answer the question.
• D. Either the statement A alone or statement B alone is sufficient to answer the question.
• E. Cannot get the answer from the statement A and B together, but need even more data.

Answer 1

The Correct Option is A

We can solve this problem using only statement A.
Using Statement A

Simple Interest (SI) = Rs 2,700
Principal (P) = Rs 15,000
Time (T) = 3 years
Rate of Interest (R) =?

We know the formula for Simple Interest:
\(SI = \frac{P \times R \times T}{100}\)
Substituting the given values:
\(2700 = \frac{15000 \times R \times 3}{100}\)
\(2700 = 450 \times R\)
\(R = \frac{2700 }{ 450}\)
R = 6% per annum
Final Answer: The statement A alone is sufficient to answer the question, but the statement B alone is not sufficient.
So the correct option is (A).