Rs. 800 becomes Rs. 956 in 3 years at certain simple rate of interest. If the rate of interest is increased by 4%, what amount will Rs. 800 become in 3 years ?

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BANK PO Exam (SBI) 2006 click here to view all questions

Rs. 800 becomes Rs. 956 in 3 years at certain simple rate of interest. If the rate of interest is increased by 4%, what amount will Rs. 800 become in 3 years ?

ARs. 1020.8

BRs. 1025

CRs. 1025

DData inadequate

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Correct answer is: Rs. 1025 Explanation: SI = 956 – 800 = 156 Rs. $\therefore Rate=\frac{SI\times 100}{Prin.\times Time}$ $=\frac{156\times 100}{800\times 3}=6.5\mathrm{\%}perannum$ $\text{∴ New rate = 10.5\% }$ $\therefore SI=\frac{PRT}{100}$ $\frac{800\times 3\times 10.5}{100}=252Rs.$ $\therefore Amount=800+252=1052Rs.$ upendra ? answered undefined All Comments

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