Data Sufficiency Question 60
Directions : Each of the questions given below consists of a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statements sufficient to answer the question. Read both the statements and
(Bank of Maharashtra PO Exam, 26.10.2016)
Give answer (1) if the data in statement I alone are sufficient to answer the question, while the data in statement II alone are not sufficient to answer the question.
Give answer (2) if the data in statement II alone are sufficient to answer the question, while the data in statement I alone are not sufficient to answer the question.
Give answer (3) if the data in statement I alone or in statement II alone are sufficient to answer the question.
Give answer (4) if the data in both the statements I and II are not sufficient to answer the question.
Give answer (5) if the data in both the statements I and II together are necessary to answer the question.
- Equal sums have been invested in two schemes, A and B for two years. Scheme A offers simple interest while scheme B offers compound interest (compounded annually). Both the schemes have equal rate of interest (p.c.p.a.). What is the rate of interest offered by each of the schemes?
I. The interest earned from scheme A per annum on the given sum is Rs. 660.
II. The interest earned from scheme B after two years is Rs. 79.20 more than the interest earned from scheme A after two years.
Show Answer
Correct Answer: 60. (5)
Solution: 60. (5) Let the principal be Rs. P and rate be $\mathrm{R} %$ p.a.
From both statements
$ \begin{aligned} & \text { Rate }=\frac{\mathrm{S} . \mathrm{I} \times 100}{\text { Principal } \times \text { Time }} \\ & \Rightarrow \mathrm{R}=\frac{660 \times 100}{\mathrm{P} \times 2} \\ & \Rightarrow \mathrm{P}=\text { Rs. }\left(\frac{33000}{\mathrm{R}}\right) \end{aligned} $
Again,
$ \begin{aligned} & \text { C.I. }- \text { S.I. }=\frac{\mathrm{PR}^{2}}{10000} \\ & \Rightarrow 79.20=\frac{33000}{\mathrm{R}} \times \frac{\mathrm{R}^{2}}{10000} \\ & \Rightarrow 792=33 \mathrm{R} \\ & \Rightarrow \mathrm{R}=\frac{792}{33}=24 % \text { p.a. } \end{aligned} $
BETA
