Question: A sum of Rs. 400 amounts to Rs. 480 in 4 yr at simple interest. What will it amount to if the rate of interest is increased by 2%?
Options:
A) Rs. 484
B) Rs. 560
C) Rs. 512
D) None of these
Show Answer
Answer:
Correct Answer: C
Solution:
- $ R=\frac{80\times 100}{400\times 4}=5 $ %
$ \therefore $ $ SI=\frac{400\times 7\times 4}{100}=Rs.,112 $
$ \therefore $ Amount $ =Rs.(400+112)=Rs.512 $