A sum of ₹4,000 amounts to ₹5,008 in three years at simple interest at the rate of x% per annum. If the interest rate becomes(x + 2.6)%, then the revised maturity amount will be:

₹5,320

Amount = Principal + interest

5008 = 4000 + interest

Simple Interest of 3 years = 5008 - 4000 = 1008

Simple interest of 1 year = \(\frac{1008}{3}\) = 336

Simple Interest = \(\frac{Principal ×Rate × Time }{100}\)

336 = \(\frac{4000 × x × 1 }{100}\)

x = 8.4%

New rate = ( x + 2.6 )% = ( 8.4 + 2.6 )% = 11%

Simple interest = \(\frac{4000 × 11 × 3}{100}\)

= 1320

New maturity amount = 4000 + 1320 = Rs. 5320