Multiple Choice Questions on The amount 2100 became 2352 in 2 years at simple interest If the interest rate is decreased by 1 wha........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

The amount 2100 became 2352 in 2 years at simple interest If the interest rate is decreased by 1 wha...........

Quant (SSC) Simple Interest
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    The amount ? 2100 became ? 2352 in 2 years at simple interest. If the interest rate is decreased by 1%, what is the new interest?

    210

    Correct Answer

    220

    Incorrect Answer

    242

    Incorrect Answer

    252

    Incorrect Answer
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    Explanation:

    SI = (Amount – Principal) = 2352 – 2100 = ? 252
    Rate = SI × 100 / Principal × Time
    = 252 × 100 / 2100 × 2 = 6% p.a.
    New rate = 6 – 1 = 5%
    ∴ SI = 252 x 5 /6 = 210

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