Question

43.
While answering the question, you may or may not require the data provided in all the
statements. You have to read the question and the three statements and then decide whether
the question can be answered with any one or two of the statements or all the three
statements are required to answer the question. Identify from the given options.
Mr Shekar 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?
L. The rate of interest is 5% 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
A
T Only
B
III Only
C I or II Only
D
ll and either I or Ill only
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Answer 1

Answer:

Option D is the right answer.

Step-by-step explanation:

Any one of the given option will net led you to the answer, as the principle and rate of interest is not given in the question. In there only the time is given.

If you take the first two statements, then the answer can be found, as the first statement gives the rate of interest and with the help of first and second, we can find the principle.

The first and third statement will not lead you to any of the answers.

The second and third statement will be helpful too, as the second statement tells the simple interest for one year, and the third statement will deliver the principle amount.

Hence, statement 1 and 2 or statement 2 and 3 is sufficient to answer the question.