1. A sum of Rs 1200 amounts to Rs 1740 in 3 years at simple interest. If rate of interest is increased by 3%, then what will be the new amount (in Rs)?
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By: anil on 05 May 2019 02.08 am
Principal sum = Rs. 1200 and amount after 3 years = Rs. 1740 Let rate of interest = $$4r\%$$ Amount under simple interest = $$P+(frac{P imes R imes T}{100})$$ => $$1200+(frac{1200 imes r imes3}{100})=1740$$ => $$36r=1740-1200=540$$ => $$r=frac{540}{36}=15\%$$ Thus, new rate of interest = $$15+3=18\%$$ $$ herefore$$ New amount = $$1200+(frac{1200 imes18 imes3}{100})$$ = $$1200+648=Rs.$$ $$1848$$ => Ans - (A)
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