Data Sufficiency Practice Test 3

ORIGINAL QUESTIONS FROM PREVIOUS YEAR PAPERS

Directions: In each of these, a question is followed by information in three statements. You have to study the question along with the information given in the statements and decide the information in which of the statement(s) is necessary and sufficient to answer the question.

Question : 2 of 35

Marks: +1, -0

What is the rate of interest p.c.p.a.?
I. Simple interest accrued on an amount in 5 years is 50% of the amount.
II. Difference between the compound interest and the simple interest on an amount of Rs 10,000 in two years is Rs 100.
III. An amount of Rs 15,000 becomes Rs 19,965 on compound interest in three years.

Only I
Only II
Only III
Any one of the three

Validate

Solution:

By using Statement I:
SI = 50, principal = 100
Rate of interest

= {50× 100}/{100×5} = 10%

By using Statement II:

SI={10,000×2×r}/100=200r

CI=10,000[(1+r/100)^2-1]

=10,000[({100+r}/100)^2-1]

=10,000({10,000+r^2+200r-10,000}/{10,000})

CI = r^2 + 200r

Difference between simple interest and compound interest:

r^2 + 200r − 200r = 100

r^2 = 100

r = 10%

By using Statement III:

19,965=15,000(1+r/100)^3

19965/15000=(1+r/100)^3

1.331=(1+r/100)^3

1.1^3=(1+r/100)^3

1.1=1+r/100

r=10%

Hence, solution can be derived by using either of the Statements I, II and III alone.

Go to Question:

Prev Question

Next Question