Simple Interest Practice Test 1

Question : 18 of 40

Marks: +1, -0

Rs. 800 becomes Rs. 956 in 3 years at certain rate of interest. If the rate of interest is increased by 4%, what amounts will Rs. 800 become in 3 years?

Rs. 1020.8
Rs. 1025
Rs. 1052
Data inadequate

Validate

Solution:

I = 956 – 800 = Rs. 156

R={156×100}/{800×3}=13/2%\p.\a

New Rate

=13/2+4=21/2%

Then

I={800×21×3}/{100×2}=\Rs. 252

Hence, amount = 800 + 252 = Rs. 1052

Go to Question:

Prev Question

Next Question