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Discussion :: Simple Interest

  1. What is the compound interest earned at the end of 3 years?

    I. Simple interest earned on that amount at the same rate and for the same period is Rs. 4500.

    II. The rate of interest is 10 p.c.p.a.

    III. Compound interest for 3 years is more than the simple interest for that period by Rs. 465

  2. A.

    I and II only


    II and III only


    I and III only


    I and Either II or III only


    Any two of the three

    View Answer


    Answer : Option D

    Explanation :

     I. gives, S.I for 3 years = Rs. 4500.


     II. gives, Rate = 10% p.a.


     III. gives, (C.I.) - (S.I.) = Rs. 465.


    Clearly, using I and III we get C.I. = Rs. (465 + 4500).


    Thus, II is redundant.


    Also,from I and II, we get sum =\([\frac { 100*4500 } { 10*3 }]\)=15000


    Now C.I. on Rs. 15000 at 10% p.a. for 3 years may be obtained.


    Thus, III is redundant.


     Either II or III is redundant

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