What is the rate of compound interest? I. The principal was invested for 4 years. II. The earned interest was Rs. 1491.

Q: What is the rate of compound interest? I. The principal was invested for 4 years. II. The earned interest was Rs. 1491.

Let Principal = Rs. P and Rate = R% p.a. Then, Amount= R s . P 1 + R 100 4 C.I = P 1 + R 100 4 - 1 P 1 + R 100 4 - 1 = 1491 Clearly, it does not give the answer

I alone sufficient while II alone not sufficient to answer
II alone sufficient while I alone not sufficient to answer
Either I or II alone sufficient to answer
Either I or II alone sufficient to answer

Correct Answer: Either I or II alone sufficient to answer

Explanation:

Let Principal = Rs. P and Rate = R% p.a. Then,

Amount= $R s . P 1 + \frac{R}{100} 4$

C.I = $P 1 + \frac{R}{100} 4 - 1$

$P 1 + \frac{R}{100} 4 - 1 = 1491$

Clearly, it does not give the answer

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