Multiple choice

A sum of Rs. 6,000 amounts to Rs. 7,800 in 4 years at simple interest. If the interest rate is increased by 2.5%, then the same sum in the same time would amount to:

  1. Rs. 8,600

  2. Rs. 9,200

  3. Rs. 8,400

  4. Rs. 8,500
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Original SI = 1800, so rate = 7.5%. New rate = 10%, giving SI of 2400 over 4 years. New amount = 6000 + 2400 = 8400.

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