Quantitative Aptitude Ques 1993

Question: Rs. 2000 amounts to Rs. 2600 is 5 yr at simple interest. If the interest rate is increased by 3%, then it would amount to

Options:

A) Rs. 2900

B) Rs. 3200

C) Rs. 3600

D) Rs. 3800

Show Answer

Answer:

Correct Answer: A

Solution:

  • $ SI=2600-2000=Rs\text{.}600 $ $ R=\frac{SI\times 100}{P\times T}=\frac{600\times 100}{2000\times 5}=6 $ % Now, rate $ (6+3) $ %=9% New SI $ =\frac{2000\times 9\times 5}{100}=Rs.900 $

$ \therefore $ Amount $ =2000+900=Rs\text{. 2900} $

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