Rs. 6200 amounts to Rs. 9176 in 4 years at simple interest. If the in…

Question

Rs. 6200 amounts to Rs. 9176 in 4 years at simple interest. If the interest rate is increased by 3% it would amount to how much?

Accepted Answer

Option C. Rs. 9920. Answer & Solution Answer: Option C Solution: & P = Rs . 6200 & S .I . & = Rs . ( 9176 - 6200 ) & = Rs . 2976 & T = 4\, years & Rate & = ( 100 × 29766200 × 4 )\% & = 12\% & New rate & = ( 12 + 3 )\% & = 15\% & New\, S .I . & = Rs . ( 6200 × 15 × 4100 ) & = Rs. \,3720 & New\, amou…