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A sum of Rs. 1200 amounts to Rs. 1740 in 3 years at simple interest. If rate of interest is increased by 3%, then what will be the new amount (in Rs)?
- A1848
- B1946
- C1812
- D1924
Answer not set
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0
CCommunity
Amount under Simple Interest (A) = P [1 + (TR/100)] ----(1)
Given Principal (P) = Rs. 1200, Amount (A) = Rs.1740, Time (T) = 3 years
Substituting all the values in Equation 1, we get
1740 = 1200 [1 + (3R/100)]
⇒ [1 + (3R/100)] = (1740/1200)
⇒ (3R/100) = 1.45 - 1
⇒ Rate of Interest (R) = (0.45 × 100)/3 = 45/3 = 15%
Rate of Interest after an increase of 3% = 15% + 3% = 18%
Amount at the new rate of Interest = 1200 [1 + (3 × 18)/100)]
⇒ 1200 [1 + (54/100)] = 1200 × (1 + 0.54) = 1200 × (1.54) = Rs. 1848
∴ New Amount = Rs. 1848
Given Principal (P) = Rs. 1200, Amount (A) = Rs.1740, Time (T) = 3 years
Substituting all the values in Equation 1, we get
1740 = 1200 [1 + (3R/100)]
⇒ [1 + (3R/100)] = (1740/1200)
⇒ (3R/100) = 1.45 - 1
⇒ Rate of Interest (R) = (0.45 × 100)/3 = 45/3 = 15%
Rate of Interest after an increase of 3% = 15% + 3% = 18%
Amount at the new rate of Interest = 1200 [1 + (3 × 18)/100)]
⇒ 1200 [1 + (54/100)] = 1200 × (1 + 0.54) = 1200 × (1.54) = Rs. 1848
∴ New Amount = Rs. 1848
0
CCommunity
Previously,
R%=(Total Interest/Principal)× (1/Total years)×100
=(1740/1200)×(1/4)×100=15%
New Rate of Interest=15+3=18%
So Now, PRT=1200×3×18=1848
R%=(Total Interest/Principal)× (1/Total years)×100
=(1740/1200)×(1/4)×100=15%
New Rate of Interest=15+3=18%
So Now, PRT=1200×3×18=1848