2024 · Q69
A question is given followed by two statements I and II. Consider the Question and the Statements and mark the correct option.
Question: What is the amount at the end of 10 years?
Statement IThe principal amount is ₹1,00,000
Statement IIRate of interest is 10% per annum Which one of the following is correct in respect of the above Question and the Statements?
Elementary MathematicsSimple and Compound Interest
- AThe Question can be answered by using one of the Statements alone, but cannot be answered using the other Statement alone
- BThe Question can be answered by using either Statement alone
- CThe Question can be answered by using both the Statements together, but cannot be answered using either Statement alone
- DThe Question cannot be answered even by using both the Statements together
Explanation
Statements I and II together supply P = ₹1,00,000, r = 10% per annum and t = 10 years, but the question never specifies simple versus compound interest. Under simple interest the amount is 100000(1+10×0.10) = ₹2,00,000, while under compound interest it is 100000(1.1)^10 ≈ ₹2,59,374. Since these differ, the amount cannot be determined even with both statements — option D.