Practicing Success
Ankita deposited Rs. 9,000 on simple interest which amounted to Rs. 10,350 after 3 years. Had the interest rate been 2% more, how much would she have got? |
Rs. 10,890 Rs. 10,490 Rs. 10,590 Rs. 10,690 |
Rs. 10,890 |
The correct answer is Option (1) → Rs. 10,890 Principal = P After 3 years of Simple interest (at Rate, R) Amount = P + S = 10350 Simple Interest, S = \(\frac{1}{100}\) P × R × T = \(\frac{1}{100}\) 9000 × R × 3 ⇒ R = 5% After 3 years of Simple interest [at Rate, (R+2)% = 7%] Simple Interest, S1 = \(\frac{1}{100}\) 9000 × R × 3 = \(\frac{1}{100}\) 9000×7×3 = 1890 Thus, the amount she would have got = P + S1 = 10890 |