Advertisement

### Question

An investor puts an amount of Rs. 1600 in a simple interest scheme. If it amounts to Rs. 1696 in 3 years @2%, what would it had amounted to had the rate been 2% more?

**A**

Rs. 1792.

**B**

Rs. 1892.

**C**

Rs. 1692.

**D**

Rs. 1992.

**Soln.**

**Ans: a**

Shortcut is required here. The addition would be same as if R = 2%, T = 3 years and P = Rs. 1600, which is ${1600 × 2 × 3}/100$ = 96. So new amount is 1696 + 96 = Rs. 1792.