Rahul invested in a bank at a rate of R % R% R % compound annually for t t t years. Find the value of t t t . Statement (I): Raj invested Rs. 10,000 i...

Banking SBI PO Prelims Medium Simplification/ Approximation MCQ

Question

Rahul invested in a bank at a rate of $R%$ compound annually for $t$ years. Find the value of $t$ .

Statement (I): Raj invested Rs. 10,000 in scheme A at a rate of $R%$ simple interest for 3 years and received Rs. 3000 as interest.

Statement (II): If Rahul invested a certain amount at compound interest for $t$ years at the rate of $X%$ , then he gets Rs. 1900 less interest than the interest he would get if he invested the same amount at simple interest at the same rate for 4 years.

Which of the statements is/are sufficient to find $t$ ?

Options

Neither statement (I) nor statement (II) alone is sufficient to answer the question.

Statement (II) alone is sufficient to answer the question but statement (I) alone is not sufficient.

Either statement (I) or statement (II) alone is sufficient to answer the question.

Both statements together are necessary to answer the question, but neither alone is sufficient.

Statement (I) alone is sufficient to answer the question but statement (II) alone is not sufficient.

compound interestsimple interestdata sufficiencybanking exam

Rahul invested in a bank at a rate of R % R% R % compound annually for t t t years. Find the value of t t t . Statement (I): Raj invested Rs. 10,000 i...

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Rahul invested in a bank at a rate of R % R% R % compound annually for t t t years. Find the value of t t t . Statement (I): Raj invested Rs. 10,000 i...

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Options

Solve This Question

Continue Practicing

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