1. 

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

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

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

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

Answer: Option E

Explanation:

Let the rate be R% p.a.

I gives, P = ₹ 8000 and T = 4 years.

II gives, S.I. = ₹ (8800 - 8000) = ₹ 800.

R = 100 x S.I. = 100 x 800 % = 2 1 % p.a.
P x T 8000 x 4 2

Thus, I and II both are needed to get the answer.

Correct answer is (E).