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A sum of Rs. 4000 amounts to Rs. 4600 in 5 years at a certain rate of simple interest. What would be the amount, if the rate of interest is increased by 3 %.
- ARs. 5800
- BRs. 5400
- CRs. 5200
- DRs. 5000
Correct answer: C
Discussion 1
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CCommunity
Rs. 5200
Principal = Rs. 4000, Amount = Principal + SI = Rs. 4600
SI = Amount – Principal = 4600 – 4000 = Rs. 600
Given : Principal = Rs. 4000, Time = T = 5 years and SI = Rs. 600
SI =PRT/100
600 = 4000 *R * 5/100
600 = 200R
R = 3 % p.a.
Now the new interest rate is = 3% + 3% = 6 % p.a.
SI = PRT/ 100 = 4000 * 6 * 5/ 100 = Rs. 1200
Amount = Principal + SI
= 4000 + 1200
= 5200 Rs.
Principal = Rs. 4000, Amount = Principal + SI = Rs. 4600
SI = Amount – Principal = 4600 – 4000 = Rs. 600
Given : Principal = Rs. 4000, Time = T = 5 years and SI = Rs. 600
SI =PRT/100
600 = 4000 *R * 5/100
600 = 200R
R = 3 % p.a.
Now the new interest rate is = 3% + 3% = 6 % p.a.
SI = PRT/ 100 = 4000 * 6 * 5/ 100 = Rs. 1200
Amount = Principal + SI
= 4000 + 1200
= 5200 Rs.