Q118
A sum of Rs. 800 amounts to Rs. 920 in 3 years at the simple interest rate. If the rate is increased by 3% p.a. What will be the sum amount to in the same period ?
A.
Rs. 992
AnswerB.
Rs. 962
C.
Rs. 942
D.
Rs. 982
Answer: Option A
Solution
Answer: Option A
Solution:
\begin{aligned}
& {\text{Increased interest in 3 years}} \\
& {\text{ = 3}} \times {\text{3}} \\
& {\text{ = 9% }} \\
& {\text{Hence increased amount}} \\
& {\text{ = }}\frac{{800 \times 9}}{{100}} \\
& = {\text{Rs}}{\text{. }}72 \\
& {\text{Total amount}} \\
& {\text{ = }}\left( {920 + 72} \right) \\
& = {\text{Rs}}{\text{. }}992 \\\end{aligned}