Question : A sum of Rs. 1500 amounts to Rs. 2175 in 3 years at simple interest. If the rate of interest is increased by 3%, then what will be the new amount?
Option 1: Rs. 2310
Option 2: Rs. 2050
Option 3: Rs. 2460
Option 4: Rs. 2250
New: SSC MTS 2024 Application Form OUT; Direct Link
Don't Miss: Month-wise Current Affairs | Upcoming Government Exams
New: Unlock 10% OFF on PTE Academic. Use Code: 'C360SPL10'
Correct Answer: Rs. 2310
Solution : The principal amount ($P$) is Rs. 1500, the time ($T$) is 3 years, and the simple interest = Rs. 2175 – Rs. 1500 = Rs. 675 If the rate of interest is increased by 3%, extra interest in 3 years $=\frac{1500×3×3}{100}=135$ New amount = Rs. 2175 + Rs. 135 = Rs. 2310 Hence, the correct answer is Rs. 2310.
Application | Cutoff | Selection Process | Preparation Tips | Eligibility | Exam Pattern | Admit Card
Question : A sum of Rs. 2,400 amounts to Rs. 3,264 in 4 years at a certain rate of simple interest. If the rate of interest is increased by 1%, the same sum at the same time would amount to:
Question : A sum of Rs. 600 becomes Rs. 840 at simple interest in 4 years. In how many years will the sum of Rs. 1500 amount to Rs. 2100 at the same rate of simple interest?
Question : A sum of Rs. 500 becomes Rs. 580 at simple interest in 2 years. In how many years will the sum of Rs. 650 amounts to Rs. 858 at the same rate of simple interest?
Question : A sum was invested on simple interest at a certain rate for 2 years. If the interest rate is increased by 4%, then the interest increases by Rs. 160. What is the sum (in Rs.) invested?
Question : The difference between simple interest and compound interest (compounding of interest is done annually) on a certain sum of money for 3 years at the rate of 20 percent per annum is Rs. 192. What is the sum?
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile