₹ 6200 amounts to ₹ 9176 in 4 years at simple interest. If the interest rate is increased by 3% it would… · ABC26GN4022
Subject: General Aptitude · Chapter: Simple Interest · Exam: E.S.I.C. 2006
₹ 6200 amounts to ₹ 9176 in 4 years at simple interest. If the interest rate is increased by 3\% it would amount to how much?
(a)₹ 8432
(b)₹ 9820
(c)₹ 9920
(d)₹ 10920
Answer
Explanation
$P=₹ 6200$, S.I. $=₹(9176-6200)=₹ 2976, T=4$ years. $$\therefore \quad \text { Rate }=\left(\frac{100 \times 2976}{6200 \times 4}\right) \%=12 \% .$$ New rate $=(12+3) \%=15 \%$. New S.I. $=₹\left(\frac{6200 \times 15 \times 4}{100}\right)=3720$. Now amount $=₹(6200+3720)=₹ 9920$.
Explanation as extracted from the printed page; notation may be imperfect.
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