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Compound Interest

Each of the questions given below consists of a question followed by three statements. You have to study the question and the statements and decide which of the statement(s) is/are necessary to answer the question.

Q1:
What will be the compound interest earned on an amount of Rs. 5000 in 2 years?
I.  The simple interest on the same amount at the same rate of interest in 5 years is Rs. 2000.
II.  The compound interest and the simple interest earned in one year is the same.
 III.  The amount becomed more than double on compound interest in 10 years.

A I only

B I and II only

C II and III only

D I and III only

E None of these

ANS:A - I only

P = Rs. 5000 & T = 2 years. I. S.I. on Rs. 5000 in 5 years is Rs. 2000.

   5000 x R x 5 = 2000          R = 8.
100
Thus I only gives the answer.  Correct answer is (A).



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