New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    A sum of ₹8,500 amounts to ₹11,900 in 5 years at

    simple interest per annum. If the rate of interest is increased by 3%, then the increased amount for the same period is
    A ₹12,175 Correct Answer Incorrect Answer
    B ₹13,175 Correct Answer Incorrect Answer
    C ₹12,475 Correct Answer Incorrect Answer
    D ₹13,275 Correct Answer Incorrect Answer

    Solution

    Now, according to the question SI = A-P SI=Rs. (11900 - 8500) = Rs 3400 SI = (PRT) / 100 Rs 3400 = (8500×R× 5) / 100 R = (680/85) R = 8% Now, the rate of interest is increased by 3% = (8 + 3) % = 11% SI=Rs. (8500 ×11 × 5) / 100 SI = Rs.4675 Now A =P+SI =8500+4675 =13175.

    Practice Next