A sum of Rs. 800 amounts to Rs. 920 in 8 years at simple interest. Interest rate is increased by 8%, it would amount to how much?
1020
920
992
1089
Correct Answer :
C. 992
S.l. = Rs. (920 - 800) = Rs. 120; p = Rs. 800, T = 3 yrs. _
R = {(100 * 120)/(800*3)} % = 5%.
New rate = (5 + 3)% = 8%.
New S.l. = Rs. (800*8*3)/100 = Rs. 192.
New amount = Rs.(800+192) = Rs. 992.
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