Arithmetic

Simple & Compound Interest

Medium

Rs. 800 becomes Rs. 956 in 3 years at a certain rate of simple interest. If the rate of interest is increased by 4%, what will Rs. 800 amount to in 3 years:

Rs. 1,020.80

Rs. 1,025

Rs. 1,052

Rs. 1,050

✅ Correct Option: 3

Initial SI = $956 - 800 = 156$ . Rate: $R = (156 \times 100)/(800 \times 3) = 6.5\%$ . New rate = $6.5 + 4 = 10.5\%$ . New SI = $(800 \times 10.5 \times 3)/100 = 252$ . New amount = $800 + 252 =$ Rs. 1052.

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Rs. 800 becomes Rs. 956 in 3 years at a certain rate of simple interest. If the rate of interest is increased by 4%, what will Rs. 800 amount to in 3 years:

Solution

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