| Rs. 800 becomes Rs. 956 in 3 yr at a certain rate of simple interest. If the rate of interest is increased by 4%, then what amount will? 800 become in 3 yr? [SSC (CGL) 2011] |
A) Rs. 1020.80
B) Rs. 1025
C) Rs. 1052
D) Rs. 1050
Correct Answer: C
Solution :
| Given, A = Rs. 956, |
| P = 800 and r = 3yr |
| \[SI=A-P=956-800=Rs.\text{ }156\] |
| \[\therefore \]\[\text{Rate}=\frac{\text{SI}\times \text{100}}{\text{Principal}\times \text{Time}}=\frac{156\times 100}{800\times 3}\] |
| = 6.5% per annum |
| \[\therefore \]New rate = Old rate + 4% = 6.5%+ 4% = 10.5% |
| Now, \[\text{SI}=\frac{\text{Principal }\!\!\times\!\!\text{ Time }\!\!\times\!\!\text{ Rate}}{100}\] |
| \[=\frac{800\times 3\times 10.5}{100}=\text{Rs}\text{. 252}\] |
| \[\therefore \] Amount \[=800+252=\text{Rs}\text{. 1052}\] |
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