Rs 1200 amounts to Rs 1632 in 44 years after a certain rate of simple interest If the rate of intere...........

Quantitative Aptitude ( CCS) Simple Interest

Rs.1200 amounts to Rs.1632 in 44 years after a certain rate of simple interest. If the rate of interest is increased by 1% what will be the amount?

Rs. 1680

Rs. 1600

Rs. 1640

Data inadequate

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Explanation:

Principal =Rs.1200;N=4 years
Simple Interest=Rs.1632-1200 =Rs.432
R=1001/PN =100×432/1200×4 =432/48 =9%
1200×10×4/100 =Rs.480
If the rate of interest is increased by 1%
New rate =9+1 =10%
Simple interest for Rs.10%
The amount will be =rs.1200+480 =Rs.1680

Hence, option 1 is the correct answer.