Discussion
Rs. 800 becomes Rs. 956 in 3 years at a rate of S.I. If the rate of interest is increased by 4%, what amount will Rs. 800 become in 3 years?
Answer: C
S.I. = (956 - 800) = Rs. 156.
Rate = (100 * 156) / (800 * 3) = 6 1/2 %
Now rate = (6 1/2 + 4) = 10 1/2 %
New S.I. = (800 * 21/2 * 3/100) = Rs. 252
New amount = (800 + 252) = Rs. 1052.
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