Author Topic: What percentage of simple interest per annum did Anand pay to Deepak? I. Anand  (Read 205 times)

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Question: What percentage of simple interest per annum did Anand pay to Deepak?

I. Anand borrowed Rs. 8000 from Deepak for four years.

II. Anand returned Rs. 8800 to Deepak at the end of two years and settled the loan.

Options are:

A.     I alone sufficient while II alone not sufficient to answer
B.     II alone sufficient while I alone not sufficient to answer
C.     Either I or II alone sufficient to answer
D.     Both I and II are not sufficient to answer
E.     Both I and II are necessary to answer

Correct answer is:

E.     Both I and II are necessary to answer

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