Discussion :: Compound Interest

What is the rate of compound interest?
I. The principal was invested for 4 years.
II. The earned interest was Rs. 1491.
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 
Answer : Option D
Explanation :
Let Principal = Rs. P and Rate = R% p.a. Then,
Amount = Rs.[P\( (1+\frac { R } { 100} ) ^4]\)
C.I = p [ \( (1+\frac { R } { 100} ) ^41]\)
P[\( (1+\frac { R } { 100} ) ^41]\)=1491
Clearly, it does not give the answer.
Be The First To Comment