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Each of the following question is follow...

Each of the following question is followed by two statements I, and Il. You have to study the question and the statements and decide which of the statement(s) is/are necessary to answer the question.
What is the rate of interest (per annum)?
Statement I: Rs, 2000 fetch an interest of Rs. 400
Statement II: Rs. 2000 becomes Rs. 2420 in 2 years when invested at compound interest compounding annually.

A

Only Statement I alone.

B

Only Statement II alone.

C

Both Statements I and II together.

D

Neither Statement I nor II is sufficient

Text Solution

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The correct Answer is:
B
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