What will be the New Interest? If
The amount ₹ 2,100 became ₹ 2,352 in 2 years at simple interest. If the interest rate is decreased by 1 %, what is the new interest ?
- ₹ 210
- ₹ 220
- ₹242
- $ 252
Answer: (1) Rs.2100
Explanation:-
Given-
Principal = Rs.21,00, Amount = Rs.2,352 and time = 2 years
Then, Simple Interest = 2352 – 2100 = Rs.252
252 = 2100 x 2 x R/100 Here, R = rate.
252 = 42R
R = 252/42
R = 6%
Rate is decreases by 1%
Then, Rate = 6 – 1 = 5%
New simple interest = 2100 x 2 x 5/100
= 21 x 10 = 210
hence, the answer is (1) Rs.2100.
