Rs. 800 amounts to Rs. 920 in 3 years at simple interest. If the interest rate is increased by 3%, it would amount to how much ?

A. Rs. 992
B. Rs. 1112
C. Rs. 1056
D. Rs. 1182

Principal = 800 SI = 120 Time = 3 year
Rate = (100*120/800*3) = 5%

New rate = 8 % principal = 800 time 3 year

SI = (800*8*3/100) = 192

New amount = 800 + 192= 992

Correct Answer: Rs. 992 ✔

Last Updated: February 07, 2020