What is the rate of interest percentage per annum? I. An amount doubles itself at simple interest in 10 yr. II. Difference between the compound interest and simple interest on an amount of ₹ 15000 in 2 yr is ₹ 150. III. The compound interest calculated after 8 yr is more than the amount principle.
Correct Answer:
Explanation:
From Statement I,
SI = PRT/100
⇒ P = (P x R x 10)/100
⇒ R = 10% From Statement II,
Difference (D) = PR2/(100)2
⇒ 150 = (15000 x R2)/10000
⇒ R = 10% Thus, either Statement I or II is sufficient.
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