engineering recuitment MP Vyapam Sub Engineer Mock Test 2024 Quantitative Aptitude Interest Simple Interest
Rs. 6000 is lent at the annual rate of 10 percent for 2 years. Which of the following is statement(s) is/are correct?
I. Simple interest to be received on this sum is Rs. 1200
II. Compound Interest (compounding annually) to be received on this sum is Rs. 1260
1
Statement I is correct
2
Both statement I and II are correct
3
Statement II is correct
4
None of them are correct.