Compound Interest - Arithmetic Aptitude Questions and Answers

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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%

I alone sufficient while II alone not sufficient to answer

II alone sufficient while I alone not sufficient to answer

Either I or II alone sufficient to answer

Both I and II are not sufficient to answer

Both I and II are necessary to answer

Answer : Option C

Explanation :

I. Amount=Rs.[200x^{\((1+\frac {6 } { 100 } )\)16]}

II. Amount =Rs.[200x^{\((1+\frac {6 } { 100 } )\)}¹⁶

Thus, I as well as II gives the answer.

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