Tuesday, January 27, 2015

Diff between SI&CI

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.

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

Watch this space for answer in a week.

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