Question

In abank '800 amounts to '1,040 inthree years at simple interest. Ifthe interest

rate is increasedby 2%per annum, then amount wil be​

Answer 1

Step-by-step explanation:

Correct option is

D

Rs. 1, 040

Given: Principal=Rs.800,Amount=Rs.920,T=3years

Simple interest =920−800=120

∴ Rate % =

800×3

120×100

=5%

If rate % is increased by 5%, i.e., if rate % = 10%, then

SI=

100

800×3×10

=240

∴Amount=Rs.800+Rs.240=Rs.1,040