Question : A sum of Rs. 800 becomes Rs. 956 in 3 years at a certain rate of simple interest. If the rate of interest is increased by 4%, what amount will the same sum become in 3 years?
Option 1: Rs. 1025
Option 2: Rs. 1042
Option 3: Rs. 1052
Option 4: Rs. 1024
Correct Answer: Rs. 1052
Solution : Given: Principal = Rs. 800, Amount = Rs. 956, and Time = 3 years Rate of interest, $R$ = 4% for extra interest Use the formula below. Extra Simple Interest = $\frac{\text{Principle×Rate×Time}}{100}$ = $\frac{800×3×4}{100}$ = Rs. 96 So, the total amount received = 956 + 96 = Rs. 1052 Hence, the correct answer is Rs. 1052.
Result | Eligibility | Application | Selection Process | Cutoff | Admit Card | Preparation Tips
Question : At a certain rate of Simple Interest, a certain sum of money becomes double itself in 10 years. It will become triple of itself in:
Question : A certain amount of money earns Rs. 540 as a simple interest in 3 years. If it earns a compound interest of Rs. 376.20 at the same rate of interest in 2 years, find the amount (in Rs.):
Question : Rs. 800 amounts to Rs. 920 in 3 years at simple interest. If the interest rate is increased by 3% it would amount to:
Question : On a certain sum, the Simple Interest at the end of $6\frac{1}{4}$ years becomes $\frac{3}{8}$th of the sum. The Rate of interest is:
Question : A person invested Rs. 12,000 on simple interest for 7 years to obtain a total amount of Rs. 20,400 on a certain annual rate of interest. What was the rate of interest to obtain the above amount?
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile