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Which of the following statements is suf...

Which of the following statements is sufficient to answer the following question?
The simple interest on a sum of money is Rs. 50. What is the sum ?
I. The interest rate is `10%` p.a.
II. The sum earned at simple interest in 10 years.

A

Only I

B

Only II

C

Neither I nor II

D

Both I and II

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem of finding the sum of money based on the given simple interest of Rs. 50, we need to analyze the two statements provided. ### Step-by-Step Solution: 1. **Understanding Simple Interest Formula**: The formula for calculating simple interest (SI) is: \[ SI = \frac{P \times R \times T}{100} \] where: - \( SI \) = Simple Interest - \( P \) = Principal amount (the sum of money we want to find) - \( R \) = Rate of interest (in percentage) - \( T \) = Time (in years) 2. **Using Statement I**: The first statement tells us that the interest rate is \( 10\% \) per annum. - We can substitute \( R = 10 \) into the formula. - However, we still need the time \( T \) to find \( P \). 3. **Using Statement II**: The second statement indicates that the sum earned at simple interest is for \( 10 \) years. - We can substitute \( T = 10 \) into the formula. - However, we still need the rate \( R \) to find \( P \). 4. **Combining Both Statements**: Now, if we combine both statements: - From Statement I, we have \( R = 10\% \). - From Statement II, we have \( T = 10 \) years. - We can now substitute both values into the simple interest formula: \[ 50 = \frac{P \times 10 \times 10}{100} \] Simplifying this: \[ 50 = \frac{P \times 100}{100} \] \[ 50 = P \] Therefore, the principal amount \( P \) is Rs. 50. 5. **Conclusion**: To find the sum of money, we need both statements together. Neither statement alone is sufficient to determine the sum. ### Final Answer: Both statements together are needed to answer the question.

To solve the problem of finding the sum of money based on the given simple interest of Rs. 50, we need to analyze the two statements provided. ### Step-by-Step Solution: 1. **Understanding Simple Interest Formula**: The formula for calculating simple interest (SI) is: \[ SI = \frac{P \times R \times T}{100} ...
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