Data Sufficiency Question 21
Directions : In each of the following questions, a question and three statements following it have been given. You are required to study the question and statements and decide that the information given in which statement(s) is necessary to answer the question?
(Corporation Bank Specialist Officer (Marketing) Exam 22.02.2014)
- What is the principal?
I. The simple interest accrued on that sum at the rate of $12 %$ per annum in 2 years is ₹ 360 less than the compound interest on the same sum at $12 %$ per annum in 2 years.
II. The sum doubles itself in 10 years at $10 %$ per annum rate of simple interest.
III. The compound interest on the sum in 2 years at the rate of $12 %$ per annum is ₹ 6360 .
$\begin{array}{ll}\text { (1) I or II} & \text{ (2) I and III \end{array}
(3) I and II. (4) II and III
(5) None of these
Show Answer
Correct Answer: 21. (1)
Solution: 21. (1) From statement I,
Difference $=\frac{\mathrm{P} \times \mathrm{R}^{2}}{10000}$
$\Rightarrow 360=\frac{\mathrm{P} \times 12 \times 12}{10000}$
$\Rightarrow \mathrm{P}=\frac{360 \times 10000}{12 \times 12}$
$=₹ 25000$
From statement II,
Interest $=2 \mathrm{P}-\mathrm{P}=\mathrm{P}$
$=$ Principal
Principal $=\frac{\text { S.I. } \times 100}{\text { Time } \times \text { Rate }}$
$=\frac{\mathrm{P} \times 100}{10 \times 10}=\mathrm{P} \times 10$
Note : You need not calculate during exam. You are required to examine whether requirements of a formula are satisfied or not.
BETA
