Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

₹800 becomes ₹956 in 3 years at a certain rate of simple interest. If the rate of interest is increased by 4%, what will ₹800 amount to in 3 years:

Options:

₹1,020.80

₹1,025

₹1,052

₹1,050

Correct Answer:

₹1,052

Explanation:

P = 800

R= R

T = 3

A = 956

SI = 956-800 = 156 = P*R*T/100

800*R*3/100 = 156

R = 156/(8*3) = 52/8 = 13/2 = 6.5

R' = 6.5+4 = 10.5

SI' = 800*10.5*3/100 = 8*10.5*3 = 252

A' = 1052

The correct answer is Option (3) → ₹1,052