What Will It Amount ?

A sum of Rs 600 amounts to Rs 720 in 4 years. What will it amount to if the rate of simple interest is increased by 2%?

  1. Rs 724
  2.  Rs 648
  3.  Rs 768
  4.  Rs 792
Gopal Default Asked on 24th July 2015 in Maths.
Add Comment
  • 1 Answer(s)

    Answer: (3) Rs.768
    Explanation:-
    Formula-
    Simple Interest = P x R x T/100
    Where, P – principal, R – rate & T – time.
    Given-
    Principal =Rs.600,  Amount = 720  & time = 4 years.
    Simple Interest = Amount – Principal
    = 720 – 600
    = Rs.120
    120 = 600 x R x 4/100
    R = 120 x 100/600 x 4
    R = 5%
    Rate of simple interest increased by 2%
    Then, rate = 5 + 2 = 7%
    Simple Interest = 600 x 4 x 7 /100
    = Rs.168
    Then, Amount = 600 + 168 = Rs.768
    Hence the answer is (3) Rs.768.

    Anurag Mishra Professor Answered on 24th July 2015.
    Add Comment
  • Your Answer

    By posting your answer, you agree to the privacy policy and terms of service.