Multiple Choice Questions on Rs 800 amounts to Rs 920 in 3 years at simple interest If the interest rate is increased by 3 and is........... for CDS Exam Preparation

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Multiple Choice Questions

Rs 800 amounts to Rs 920 in 3 years at simple interest If the interest rate is increased by 3 and is...........

Quantitative Aptitude (CDS) Simple Interest
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    Rs. 800 amounts to Rs.920 in 3 years at simple interest. If the interest rate is increased by 3% and is calculated at compound interest then find the amount? 

    Rs. 1000

    Incorrect Answer

    Rs. 1007.76

    Correct Answer

    Rs. 1100

    Incorrect Answer

    Rs. 1010

    Incorrect Answer
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    Explanation:

    .I. =920-800
    S.I. =120
    120=800×r×3/100
    R=5%
    After increasing rate is 5+3= 8%
    Compound money =800(1+8/100) ^3
    =1007.76

    By: bhavesh kumar singh
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