What is the compound interest rate? I. The first investment was made for a period of four years. II. The interest earned was Rs. 1491.
A. I alone sufficient while II alone not sufficient to answer
B. II alone sufficient while I alone not sufficient to answer
C. Either I or II alone sufficient to answer
D. Both I and II are not sufficient to answer
Answer:D
What is the compound interest rate? I. The first investment was made for a period of four years. II. The interest earned was Rs. 1491.
A. I alone sufficient while II alone not sufficient to answer B. II alone sufficient while I alone not sufficient to answer C. Either I or II alone sufficient to answer D. Both I and II are not sufficient to answer
Explanation: Let's say the principal is Rs. P and the rate is R percent per annum. Then,Amount = Rs. (P 1 + R/100 to the fourth power).P (1 + R/100 to the power 4 )- 1 = C.I.= P (1 + R /100 to the fourth power )- 1 = 1491.Clearly, it does not provide the solution.