Question 144

800 becomes 956 in 3 years at a certain rate of simple interest. If the rate of interest is increased by 4%, what amount will 1’ 800 become in 3 years ?

Solution

SI for 3 years = $$\frac{PRT}{100}$$ = 956 - 800

$$\frac{800xRx3}{100}$$ = 156

R = 6.5%

now rate is increased by 4% and hence R(new) = 10.5%

new principal amount = Rs 1800

time = 3 years

SI new = $$\frac{1800x10.5x3}{100}$$ = 567

and hence amount after 3 years = 1800 + 567 = 2367

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