CAT 1996 Question Paper Question 83

Instructions

 Each question is followed by two statements, I and II. Mark the answer
 

Question 83

What is the total worth of Lakhiram's assets?
I. A compound interest at 10% on his assets, followed by a tax of 4% on the interest, fetches him Rs. 1,500 this year.
II. The interest is compounded once every four months.

Solution

Considering statement 1 alone, together with all the information we also need information about the time period of compounding interest which is given in second statement.
Hence we can find value of assets using both the statements together.
So answer will be D.



Create a FREE account and get:

  • All Quant CAT Formulas and shortcuts PDF
  • 30+ CAT previous papers with solutions PDF
  • Top 500 CAT Solved Questions for Free

cracku

Boost your Prep!

Download App