At a certain rate of simple interest ₹1200 amounted to ₹1632 in 4 years. If the rate of interest increased by 1%, what will be the amount after 4 years ?

₹1680

S.I. in 4 years = ₨.1632 - ₨.1200 

                     = ₨.432

S.I, in 1 year = \(\frac{432}{4}\) 

                   = ₨. 108

rate = \(\frac{108}{1200}\) x 100

       = 9%

Now the rate is increased by 1% = 10%

Amount = P + \(\frac{PxRXT}{100}\)

             = 1200 + \(\frac{1200 x 10 x 4}{100}\)

             = 1200 + 480

             = 1680