Q. Consider the given question and decide which of the following statements is sufficient to answer the question. X took a loan from Y on compound interest. Find the rate per annum? Statements :1. After 3 years, X paid Rs. 500 as interest2. After 3 years, X paid Rs. 1500 to clear his loan with Y.

A) 1 alone is sufficient while 2 alone is not sufficient to answer the question

B) 2 alone is sufficient while 1 alone is not sufficient to answer the question

C) Either 1 or 2 is sufficient to answer the question

D) Both 1 and 2 are sufficient to answer the question

✔ Correct Answer: Either 1 or 2 is sufficient to answer the question

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