Aptitude - Simple Interest - Discussion
Discussion Forum : Simple Interest - General Questions (Q.No. 13)
13.
A certain amount earns simple interest of Rs. 1750 after 7 years. Had the interest been 2% more, how much more interest would it have earned?
Answer: Option
Explanation:
We need to know the S.I., principal and time to find the rate.
Since the principal is not given, so data is inadequate.
Discussion:
97 comments Page 1 of 10.
Nagurvargani said:
4 months ago
No, @Jaimunis.
1750/7=250 is the correct answer.
1750/7=250 is the correct answer.
Jaimunis said:
6 months ago
The total interest received for one is 350 (1750/7 = 350).
Then assume that the 350 you received is for 98%.
And do like this (350/98)*100 = 355.
So, the additional interest received is 5 then (5*7 = 35) then the answer is 35.
Then assume that the 350 you received is for 98%.
And do like this (350/98)*100 = 355.
So, the additional interest received is 5 then (5*7 = 35) then the answer is 35.
(4)
Dhananjay said:
12 months ago
Yes, I agree, the answer is 35.
(5)
Yokesh Velraj said:
1 year ago
Answer (C) Let us assume the principal amount and interest rate is 2500 and 10%. In that, the rate increases by 2%, meaning the interest rate is 12%.
From that, we must calculate using the Simple interest formula PNR/100. New SI after 7 years is 2100 and (2100 -1750) = 350 rs.
From that, we must calculate using the Simple interest formula PNR/100. New SI after 7 years is 2100 and (2100 -1750) = 350 rs.
(1)
Jayden Akpalu said:
2 years ago
I think the answer should be 35.
The confusion is on whether the rate increases by 2% or the interest itself increases by 2%.
So, let us consider both cases.
CASE 1(Rate 2% increase):
SI = Rs. 1750.
T = 7 years.
R = ?
Let R = R.
P = (SI * 100)/ (R * T)
= (1750 * 100)/(R * 7)
= 25000/R.
Now, if rate is increased by 2%, the new rate = R + (2/100)R.
= 1.02R.
New SI = P * R *T/100.
= (25000/R * 1.02R * 7)/ 100,
= Rs. 1785.00.
Increase in SI = Rs. (1785 - 1750).
= Rs. 35.
CASE 2(SI 2% increase):
Initial SI = Rs. 1750;
After 2% increase, new SI = 1750 + (2/100)*1750,
= Rs.1785.
Increase in SI = Rs.( 1785 - 1750).
=Rs. 35.
The confusion is on whether the rate increases by 2% or the interest itself increases by 2%.
So, let us consider both cases.
CASE 1(Rate 2% increase):
SI = Rs. 1750.
T = 7 years.
R = ?
Let R = R.
P = (SI * 100)/ (R * T)
= (1750 * 100)/(R * 7)
= 25000/R.
Now, if rate is increased by 2%, the new rate = R + (2/100)R.
= 1.02R.
New SI = P * R *T/100.
= (25000/R * 1.02R * 7)/ 100,
= Rs. 1785.00.
Increase in SI = Rs. (1785 - 1750).
= Rs. 35.
CASE 2(SI 2% increase):
Initial SI = Rs. 1750;
After 2% increase, new SI = 1750 + (2/100)*1750,
= Rs.1785.
Increase in SI = Rs.( 1785 - 1750).
=Rs. 35.
(26)
Nagesh said:
3 years ago
I think the answer should be 245.
(7)
DEV said:
3 years ago
I think the answer should be 35.
(8)
Lowkeytt said:
4 years ago
The answer is c:350 Rs.
Lets assume the simple interest rate is 10%, if you apply the formula the principal will be 2500. 2% Increase in interest rate with 2500 as a principle will yield an interest amount of 2100.
So, the difference will be 350.
Lets assume the simple interest rate is 10%, if you apply the formula the principal will be 2500. 2% Increase in interest rate with 2500 as a principle will yield an interest amount of 2100.
So, the difference will be 350.
(2)
Tendrup said:
4 years ago
The answer is Rs. 35.
Because the 2% more is on Simple Interest and not on the interest rate. Therefore we can directly find 2% of given simple interest in one year and multiply by 7.
Because the 2% more is on Simple Interest and not on the interest rate. Therefore we can directly find 2% of given simple interest in one year and multiply by 7.
(1)
Abhishek said:
4 years ago
I think 35 is right answer.
1750/7=250 is S.I. Per year.
2% more of 250=255.
Therefore 5 is more.
5*7=35 is right.
1750/7=250 is S.I. Per year.
2% more of 250=255.
Therefore 5 is more.
5*7=35 is right.
(9)
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