The question given below consists of a statement and/or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statements is/are sufficient to answer the given question. Read the both statements and give answer
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 is earned simple interest in 10 years.

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if the data in Statement-I alone are sufficient to answer the question, while the data in Statement-II alone are not sufficient to answer the question

if data in both Statement-I and II together are necessary to answer the question

if the either in Statement-I or Statement-II alone are sufficient to answer the question

if the data in Statement-II alone are sufficient to answer the question, while the data in Statement-I alone are not sufficient to answer the question.

answer is B.

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Detailed Solution

Solution: $S . I = R s .50$

$\begin{array}{l} I = 10 % p a \\ T = 10 y r s \\ S . I = \frac{P T R}{100} \\ 50 = \frac{P \times 10 \times 10 \times \frac{1}{100}}{100} \\ P = 50 \times 100 = 5000 \end{array}$