Question

A sum of Rs. 700 amounts to Rs. 820 in 3 years at simple interest. if the interest rate is increased by 3%, it would amount to how much ?​

Answer 1

Answer:

Given Principal = 800, T = 3 years, SI = 920.

SI for 3 years = 920 - 800 = 120

We know that SI = PTR/100

   R = 100 * SI/PT

       = 100 * 120/800 * 3

       = 5%.

New Rate = 5 + 3 = 8%, P = 800, T = 3.

SI = PTR/100

    = 800 * 3 * 8/100

    = 192.

Therefore the new amount = 800 + 192

                                               = 992.

Hope this helps!

Step-by-step explanation:

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