Rs 800 becomes Rs 956 in 3 years at a certain rate of simple interest If the rate of interest is inc...........

Quantitative Aptitude ( CCS) Simple Interest

Rs. 800 becomes Rs. 956 in 3 years at a certain rate of simple interest. If the rate of interest is increased by 4%, what amount will Rs. 800 become in 3 years?

Rs. 1020.80

Rs. 1025

Rs. 1052

data inadequate

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Explanation:

SI = 956 – 800 = 156 Rs.
$\therefore Rate = \frac{SI\times 100}{Prin.\times Time}$
$= \frac{156\times 100}{800\times 3} = 6.5\%\ per\ annum$
∴ New rate = 10.5%
$\therefore SI = \frac{PRT}{100}$
$= \frac{800\times 3\times 10.5}{100} = 252\ Rs.$
∴ Amount = 800 + 252 = 1052 Rs.