Q:
Study the question and all the three statements given and decide whether any information provided in the statements are redundand and can be dispensed with while answering the questions.
Question :
What is the rate of interest per year ?
Statements :
1. The amount invested is Rs. 6000.
2. The amount becomes Rs. 6741.60 in 2 years at compound interest.
3. The difference between compound interest and simple interest in 2 years is Rs. 21.60.
Answer & Explanation
Answer: C) Any two of (1, 2 & 3)
Explanation: Using Both 1 & 2 statements we get the rate of interest as in (1) we have given principle amount and in (2) compound interest for 2 years. By this data we get the rate%.
Using Both 1 & 3 statements we can get the rate% as we have principle amount & difference between compound interest and simple interest in 2 years.
Using Both 2 & 3 statements we get compound interest & simple interest by which we get principle amount. So that we can calculate %rate.
Hence by using any two of the three statements(1,2&3) we get rate of interest.
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