Multiple Choice Questions on A sum of Rs 800 amounts to Rs 920 in 3 years at simple interest If the interest rate is increased by........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

A sum of Rs 800 amounts to Rs 920 in 3 years at simple interest If the interest rate is increased by...........

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

    780

    Incorrect Answer

    992

    Correct Answer

    848

    Incorrect Answer

    700

    Incorrect Answer
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    Explanation:

    S.I = Rs. (920 – 800) = Rs. 120; P = Rs. 800, T = 3 yrs
    use SI=Px R x T/100 so, R = Si x 100 /Px t = ( 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

    By: Manpreet kaur
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