RRB Group D Model Paper 7 with solutions

Question : 2 of 100

Marks: +1, -0

₹ 800 amounts to ₹ 920 in 3 years at simple interest. If the interest rate is increased by 3%, it would amount to

Solution:

(4) Simple interest = 920 – 800 = ₹ 120. So,
SI =

{P× r× t}/100

⇒ r =

{120×100}/{800×3}

= 5%
New rate = 5 + 3 = 8% p.a.
So, interest will be

{800×8×3}/100

= ₹ 192
Hence, the new amount = 800 + 192 = ₹ 992

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