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 ?

  1. ₹ 210
  2. ₹ 220
  3. ₹242
  4. $ 252
Manish Listener Asked on 16th June 2015 in Maths.
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  • 1 Answer(s)

    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.

    Anurag Mishra Professor Answered on 17th June 2015.
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