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An amount of Rs. 3000 becomes Rs. 3600 in four years at simple interest. If the rate of interest was 1% more, then what was be the total amount?
- ARs. 3800
- BRs. 3780
- CRs. 3720
- DCannot be determined
Correct answer: C
Discussion 1
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CCommunity
Rs. 3720
A = P(1 + TR/100)
=> 3600 = 3000[1 + (4 * R)/100] => R = 5%
Now R = 6%
=> A = 3000[1 + (4 * 6)/100] = Rs. 3720.
A = P(1 + TR/100)
=> 3600 = 3000[1 + (4 * R)/100] => R = 5%
Now R = 6%
=> A = 3000[1 + (4 * 6)/100] = Rs. 3720.