A sum of Rs8 500 amounts to Rs11 900 in 5 years at simple interest per annum If the rate of interest...........

Quantitative Aptitude (MTS) Simple Interest

A sum of Rs8,500 amounts to Rs11,900 in 5 years at simple interest per annum. If the rate of interest is increased by 3%, then the

increased amount for the same period is:

This questions was previously asked in

SSC MTS 7th October 2021 Shift-1

Rs12,175

Rs13,175

Rs12,475

Rs13,275

- Initially, Rs8,500 becomes Rs11,900 in 5 years.

- Simple interest formula: Interest = Principal × Rate × Time / 100.

- Interest earned: Rs11,900 - Rs8,500 = Rs3,400.

- Calculate original rate: Rs3,400 = Rs8,500 × Rate × 5 / 100.

- Rate = (Rs3,400 × 100) / (Rs8,500 × 5) = 8% per annum.

- New rate: 8% + 3% = 11% per annum.

- Calculate new interest: Rs8,500 × 11% × 5 = Rs4,675.

- Total new amount: Rs8,500 + Rs4,675 = Rs13,175.

Option 2: Rs13,175 is the correct answer.

Submit Error