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Home Aptitude Compound Interest See What Others Are Saying!
  • Question
  • Mr. Gupta borrowed a sum of money on compound interest. What will be the amount to be repaid if he is repaying the entire amount at the end of 2 years? I. The rate of interest is 5 p.c.p.a. II. Simple interest fetched on the same amount in one year is Rs. 600. III. The amount borrowed is 10 times the simple interest in 2 years.


  • Options
  • A. .I only
  • B. III only
  • C. I or II
  • D. II and Either I or III only

  • Correct Answer
  • II and Either I or III only 

    Explanation

       I. gives, Rate = 5% p.a.

     

     II. gives, S.I. for 1 year = Rs. 600.

     

    III. gives, sum = 10 x (S.I. for 2 years).

     


     Now I, and II give the sum.


     For this sum, C.I. and hence amount can be obtained.


     Thus, III is redundant.


     Again, II gives S.I. for 2 years = Rs. (600 x 2) = Rs. 1200.


     Now, from III, Sum = Rs. (10 x 1200) = Rs . 12000.


    Thus,Rate = 100 * 1200 2 * 12000  =5%


    Thus, C.I. for 2 years and therefore, amount can be obtained.


    Thus, I is redundant.



    Hence, I or III redundan
  • Tags: Bank Exams, Bank PO

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