| Rs. 2000 amounts to Rs. 2600 is 5 yr at simple interest. If the interest rate is increased by 3%, then it would amount to |
A) Rs. 2900
B) Rs. 3200
C) Rs. 3600
D) Rs. 3800
Correct Answer: A
Solution :
| \[\text{SI}=2600-2000=\text{Rs}\text{.}\,\,600\] |
| \[\text{R}=\frac{\text{SI}\times 100}{\text{P}\times \text{T}}=\frac{600\times 100}{2000\times 5}=6\]% |
| Now, rate \[(6+3)\]%=9% |
| New SI \[=\frac{2000\times 9\times 5}{100}=\text{Rs}.900\] |
| \[\therefore \]Amount \[=2000+900=\text{Rs}\text{. 2900}\] |
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