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Compound Interest

Each of the questions given below consists of a statement and / or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statement(s) is / are sufficient to answer the given question. Read the both statements and
  • Give answer (A) if the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question.
  • Give answer (B) if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question.
  • Give answer (C) if the data either in Statement I or in Statement II alone are sufficient to answer the question.
  • Give answer (D) if the data even in both Statements I and II together are not sufficient to answer the question.
  • Give answer(E) if the data in both Statements I and II together are necessary to answer the question.
Q1:

What will be compounded amount?
I.  Rs. 200 was borrowed for 192 months at 6% compounded annually.
 II.  Rs. 200 was borrowed for 16 years at 6%.

A I alone sufficient while II alone not sufficient to answer

B II alone sufficient while I alone not sufficient to answer

C Either I or II alone sufficient to answer

D Both I and II are not sufficient to answer

E Both I and II are necessary to answer

ANS:C - Either I or II alone sufficient to answer

 I. Amount = Rs. 200 x 1 + 6 16
100
II. Amount = Rs. 200 x 1 + 6 16
100
Thus, I as well as II gives the answer.  Correct answer is (C).



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