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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

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
Both I and II are necessary to answer

Correct Answer: Both I and II are necessary to answer

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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