Question 82

A sum of Rs.800 becomes Rs.956 in 3 years at some rate of Simple Interest. If the rate is increased by 4%, then whatwill be the gain in the investment?

Solution

SI = 956 - 800 = 156 Rs.

rate = $$\frac{SI\times 100}{P\times T}$$

$$\frac{156\times 100}{800\times 3}$$ = 6.5%

New rate = 10.5%

S.I= $$\frac{P \times R \times T}{100}$$

= $$\frac{800\times 10.5 \times 3}{100}$$

= 252 Rs
so investment gain = Rs 252 - Rs 156 = Rs 96

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