Q. 800 Rs. becomes 956 Rs. in 3 years at certain rate of simple interest. If the rate of interest is increased by 4%, what amount will 800 Rs. become in 3 years?
Answer: 1052 Rs
Notes: SI = 956 - 800 = 156 Rs. $latex \therefore Rate = \frac{SI\times 100}{Prin.\times Time}&s=1$ $latex = \frac{156\times 100}{800\times 3} = 6.5\%\ per\ annum&s=1$ ∴ New rate = 10.5% $latex \therefore SI = \frac{PRT}{100}&s=1$ $latex = \frac{800\times 3\times 10.5}{100} = 252\ Rs.&s=1$ ∴ Amount = 800 + 252 = 1052 Rs. Hence option [D] is correct answer.