Compound Interest - Arithmetic Aptitude Questions and Answers

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An amount of money was lent for 3 years. What will be the difference between the simple and the compound interest earned on it at the same rate?

I .The rate of interest was 8 p.c.p.a.

II .The total amount of simple interest was Rs. 1200.

I alone sufficient while II alone not sufficient to answer

II alone sufficient while I alone not sufficient to answer

Both I and II are not sufficient to answer

Both I and II are necessary to answer

Answer : Option E

Explanation :

Given: T = 3 years.

I. gives: R = 8% p.a.

II. gives: S.I. = Rs. 1200.

Thus, P = Rs. 5000, R = 8% p.a. and T = 3 years.

Difference between C.I. and S.I. may be obtained.

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