# what will be sum amount to in the same period? If

A sum of ₹ 800 amounts to ₹ 920 in 3 years at the simple interest rate. If the rate is increased by 3 % p.a., what will be sum amount to in the same period?

- ₹ 992
- ₹ 962
- ₹ 942
- ₹ 982

**Answer: (1) Rs.920**

**Explanation:-**

Principal = Rs.800, Amount = Rs.920

Simple interest = 920 – 800 = Rs.120

Time = 3 years

Formula –

Simple interest = Principal x Rate x Time/100

Then, Rate = Simple interest x 100/Principal x Time

Rate = 120 x 100/800 x 3

Rate = 5%

According to question,

Rate increased by 3%

Then, Rate = 5 + 3 = 8%

Then, Simple interest = 800 x 8 x3/100

= Rs.192

Amount = 800 + 192 = Rs.992

Hence, the answer is (1) Rs.920