In a bank ‘800 amounts to ‘1,040 in three years at simple interest. If the interest rate is increased by 2% per annum, then amount will be About the author Melanie
Answer: Answer Open in answr app Correct option is D Rs. 1, 040 Given: Principal=Rs.800,Amount=Rs.920,T=3years Simple interest =920−800=120 ∴ Rate % = 800×3 120×100 =5% If rate % is increased by 5%, i.e., if rate % = 10%, then SI= 100 800×3×10 =240 ∴Amount=Rs.800+Rs.240=Rs.1,040 Reply
Answer:
Answer
Open in answr app
Correct option is
D
Rs. 1, 040
Given: Principal=Rs.800,Amount=Rs.920,T=3years
Simple interest =920−800=120
∴ Rate % =
800×3
120×100
=5%
If rate % is increased by 5%, i.e., if rate % = 10%, then
SI=
100
800×3×10
=240
∴Amount=Rs.800+Rs.240=Rs.1,040