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In how many years can a simple interest ...

In how many years can a simple interest of 6570 be obtained on an amount of 36500?
I. The rate of simple interest is 6% per annum.
II. The difference between the simple interest and compound interest is 402.084

A

If the Statement I alone is sufficient to answer the question but the Statement II alone is not sufficient

B

If the Statement II alone is sufficient to answer the question but the Statement alone is not sufficient

C

If both Statements I and II together are needed to answer the question

D

If either the Statement I alone or Statement II alone is sufficient to answer the question

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The correct Answer is:
To solve the question of how many years it will take to obtain a simple interest of 6570 on an amount of 36500, we will analyze the information provided in the statements. ### Step-by-step Solution: 1. **Understanding the Formula for Simple Interest**: The formula for calculating Simple Interest (SI) is: \[ SI = \frac{P \times R \times T}{100} \] where: - \( SI \) = Simple Interest - \( P \) = Principal amount (initial amount) - \( R \) = Rate of interest per annum - \( T \) = Time in years 2. **Using Statement I**: From Statement I, we know: - \( SI = 6570 \) - \( P = 36500 \) - \( R = 6\% \) We can substitute these values into the formula to find \( T \): \[ 6570 = \frac{36500 \times 6 \times T}{100} \] 3. **Rearranging the Equation**: To find \( T \), we can rearrange the equation: \[ T = \frac{6570 \times 100}{36500 \times 6} \] 4. **Calculating the Value of \( T \)**: Now, we will perform the calculations: \[ T = \frac{657000}{219000} = 3 \] Thus, \( T = 3 \) years. 5. **Conclusion**: From Statement I alone, we have determined that it will take 3 years to obtain a simple interest of 6570 on an amount of 36500 at a rate of 6% per annum. ### Analyzing Statement II: - Statement II provides information about the difference between simple interest and compound interest, but it does not provide necessary information to calculate the time directly for simple interest. Therefore, Statement II is not sufficient on its own. ### Final Answer: - Statement I alone is sufficient to answer the question. - Statement II alone is not sufficient to answer the question. The answer is **Option A**.
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