Thursday, 30 April 2020

At simple interest Rs. 1000 becomes Rs. 1150 in 3 years. If the interest rate is increased by 3% then the total amount is

At simple interest Rs. 1000 becomes Rs. 1150 in 3 years. If the interest rate is increased by 3% then the total amount is

A. 1400
B. 1300
C. 1140
D. 1240

ANS: D

EXPLANATION:

S.I = 1150 – 1000 = 150
PNR/100 = 150
(1000×3×R) /100= 150
R = 5

R is increased by 3%, new R = 5+3 = 8%
New S.I = (1000×3×8)/100 = 240
Amount = 1240


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