Discussion Forum

Sanjay deposited Rs.8,000 which amounted to Rs.9,200 after 3 years at simple interest. Had the interest been 2% more, the amount he receives is

Answer:

Explanation:

$P$ = Rs. $8,000$, $A$ = Rs. $9,200$, $N=3$

$S.I.$ $=9200-8000$ $=1200$

$R$ $=\frac{100\times 1200}{8000\times 3}$ $=5\%$

If rate percent is $2\%$ more then.

$S.I.$ $=\frac{8000\times 7\times 3}{100}$ $=1680$

$A$ $=P+SI$ $=8000+1680$ = Rs. 9680.