Question
Rs.800 amounts to Rs.920 in 3 years at simple interest. If the interest rate is increased by 3%, it would amount to
Answer: Option C
Answer: (c)Using Rule 1,S.I. = Rs.(920 - 800) = Rs.120Rate = ${\text"S.I." × 100}/\text" Principal × Time"$= ${120 × 100}/{800 × 3}$ = 5% per annumNew rate = 8% per annumS.I. = ${800 × 3 × 8}/100$ = Rs.192Amount = (800 + 192) = Rs.992
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Answer: (c)Using Rule 1,S.I. = Rs.(920 - 800) = Rs.120Rate = ${\text"S.I." × 100}/\text" Principal × Time"$= ${120 × 100}/{800 × 3}$ = 5% per annumNew rate = 8% per annumS.I. = ${800 × 3 × 8}/100$ = Rs.192Amount = (800 + 192) = Rs.992
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