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In how many year can a simple interest of ₹6570 be obtained on an amount of ₹ 36500? I. The rate of simple interest is 6% per annum. II. The difference between the simple interest and compound interest is ₹ 402.084.

Correct Answer: If the Statement I alone is sufficient to answer the question but the Statement II alone is jot sufficient

Explanation:

Apply the law of Simple Interest.
Simple Interest ( S.I ) = (P x R x T)/100
where Principal amount = P,
Rate of Interest = R% per year and
Time = T years.
Then
T = (S.I x 100)/P x R
From Statement I,
⇒ T = 6570 x 100/36500 x 6
⇒ T = 6570 x 1/365 x 6
⇒ T = 1095 x 1/365
⇒ T= 1095/365
⇒ T= 3 yr
I statement is enough to answer the question. II statement is not enough alone to answer the question.


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