What is the amount of compound interest received after three years? I. The simple interest received at the same rate and for the same term on that amount is Rs. 4500. II. The interest rate is ten percent each annum. III. For a period of three years, compound interest is Rs. 465 more than simple interest.
A. I only
B. I and II only
C. II and III only
D. I and III only
Answer:D
What is the amount of compound interest received after three years? I. The simple interest received at the same rate and for the same term on that amount is Rs. 4500. II. The interest rate is ten percent each annum. III. For a period of three years, compound interest is Rs. 465 more than simple interest.
A. I only B. I and II only C. II and III only D. I and III only
Explanation: S.I. for three years Equals Rs. 4500, according to I.Rate = 10% p.a., according to II.(C.I.) - (S.I.) = Rs. 465, according to III.Clearly, C.I. = Rs. (465 + 4500) is obtained by combining I and III.As a result, II is superfluous.We also obtain sum = 100 x 4500 = 15000 from I and II.3 x 10.C.I. on Rs. 15000 at 10% p.a. for three years is now available.As a result, III is superfluous.