Discussion of Question with ID = 007 under Simple-Interest

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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.


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