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Arithmetic Ability
Simple Interest

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What percentage of simple interest per annum did Anand pay to Deepak? I. Anand borrowed Rs. 8000 from Deepak for four years. II. Anand returned Rs. 8800 to Deepak at the end of two years and settled the loan

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 necessary to answer

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Correct choice: D

Explanation:

Let the rate be R% p.a. I gives, P = Rs. 8000 and T = 4 years. II gives, S.I = Rs. (8800 - 8000) = Rs. 800. R = [100 x S.I] / [p x t ]= (100 x 800)/(8000 x 4) = 2 ½ % p.a Thus, I and II both are needed to get the answer.

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Arithmetic Ability Simple Interest

Arithmetic Ability
Simple Interest