In 2014, if rate of interest is increased by 3%, what will be the amount received after given time?
First, rate of interest, 12500 × r × 1/100 = 875 rate = 7% Now, new rate of interest = 7 + 3 = 10% So, Interest = 12500 × 10 × 8/100 = Rs 10,000 So amount = 12500 + 10000 = Rs 2,2500
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