Multiple Choice Questions on Rs 400 amounts to Rs 460 in 3 years at simple interest If the interest rate is increased by 3 it wou........... for CDS Exam Preparation

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Multiple Choice Questions

Rs 400 amounts to Rs 460 in 3 years at simple interest If the interest rate is increased by 3 it wou...........

Quantitative Aptitude (CDS) Compound Interest
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    Rs. 400 amounts to Rs. 460 in 3 years at simple interest. If the interest rate is increased by 3%, it would amount to how much?

    Rs. 496

    Correct Answer

    Rs. 469

     

    Incorrect Answer

    Rs. 564

     

    Incorrect Answer

    Rs. 359

    Incorrect Answer
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    Explanation:

    Principal = Rs. 400, SI= Rs.? , Time = 3 years
    Rate = (100×120)/(400×3)% = 8%
    New rate  = 5%, principal  = Rs. 400, time = 3years
    SI = Rs. (400 × 8 × 3)/(100) = Rs. =96
    New amount = Rs. (400 + 96 ) = Rs. 496

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