Scheme A offers R% p.a. compound interest, compounded annually. Find the value…
IBPS · 2020
Scheme A offers R% p.a. compound interest, compounded annually. Find the value of R.
Statement I – The interest received on Rs. (2/5)P at simple interest for 11 years at the rate of (R/4)% p.a. is half of the interest when Rs. P is invested in Scheme A for 2 years.
Statement II – Rs. X is invested in Scheme A for two years and it amounts to Rs. 3600. If Rs. (16/25)X is invested at the rate of (R – 10)% on compound interest annually for two years, then it amounts to Rs. 1936.
Statement III – When Rs. Q is invested in Scheme A for two years and for three years, the difference between the interests is Rs. 1152.
- A.
Statement (I) alone is sufficient to answer the question
- B.
Statement (II) alone is sufficient to answer the question
- C.
All the three statements taken together are necessary to answer the question
- D.
Either statement (I) alone or statements (II) and (III) together are sufficient to answer the question
- E.
Either statement (I) alone or statement (II) alone is sufficient to answer the question
Attempted by 10 students.
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Correct answer: E