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Q:

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.

A) I and II only B) II and III only
C) I and III only D) Either II or III only

Answer:   D) Either II or III only



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 =

 

 

 

100 x 4500

 

 

 

= 15000.

 

 

 

10 x 3

 

 

 

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.

Subject: Quantitative Aptitude - Arithmetic Ability
Exam Prep: Bank Exams
Job Role: Bank PO
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