In the given question, two quantities are given, one as Quantity I and another as Quantity II. You have to determine relationship between two quantities and choose the appropriate option.
Ram invested Rs. P in scheme T and Rs. 2P in scheme S , for two years each. Scheme T offers simple interest p.a. Scheme S offers compound interest (compounded annually) at the rate of 10% per annum. Respective ratio between the interest earned from scheme T and that earned from scheme S was 8 ∶ 21.
Quantity I : Rate of interest offered by scheme T.
Quantity II : Rate of interest offered by scheme U (simple interest per annum), when Rs. 1600 is invested for 3 years earns an interest of Rs. 384.
1
If Quantity I ≥ Quantity II
2
If Quantity I > Quantity II
3
If Quantity I < Quantity II
4
Quantity I = Quantity II or the relationship cannot be established from the information that is given
5
Quantity I ≤ Quantity II