Multiple Choice Questions on Rs 800 amount to Rs 920 in 3 years at simple interest If the interest rate is increased by 3 it woul........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

Rs 800 amount to Rs 920 in 3 years at simple interest If the interest rate is increased by 3 it woul...........

Quantitative Aptitude ( CCS) Simple Interest
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    Rs. 800 amount to Rs.920 in 3 years at simple interest. If the interest rate is increased by 3%, it would amount to how much?

    Rs. 992

    Correct Answer

    Rs. 1056

    Incorrect Answer

    Rs. 1112

    Incorrect Answer

    Rs. 1182

    Incorrect Answer
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    Explanation:

    S.I = Rs. (920 – 800) = Rs. 120; P = Rs. 800, T = 3 yrs
     R = ( 100 X 120 )% / 800 X 3 = = 5%
    New rate = (5 + 3) % = 8%
    New S.I. = Rs. (800 X 8 X 3)/ 100== Rs. 192.
    New amount = Rs. (800 + 192) = Rs. 992

    Hence, option 1 is the correct answer.

    By: Amit Kumar
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