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 4 of 10.
Virender sawaliya said:
9 years ago
1750 = P * 7 * R/100.
So P * R = 25000.
If R is 2% more then P * R * 102/100 = 25500.
So new S.I.= 25500 * 7/100 = 1785
so increase S.I = 1785 - 1750 = 35.
So P * R = 25000.
If R is 2% more then P * R * 102/100 = 25500.
So new S.I.= 25500 * 7/100 = 1785
so increase S.I = 1785 - 1750 = 35.
Amrendra Kumar said:
9 years ago
If interest would be 2% more for 7 years = 2/100*7 = 0.14, Now, earlier interest received with same principle ie Rs. 1750. Hence with 2% more interest it would be Rs. 1750*0.14 = 245,
Hence option B is correct.
Hence option B is correct.
Joby Jacob said:
9 years ago
Yes, I do agree with Amrendra Kumar. I think its option "B".
There is a total increase of 2 * 7% in the total interest of Rs. 1750.
i.e An additional 14% will be the extra amount added view increase in 2% from the existing SI.
If, we consider the existing total SI as 100%, ie Rs. 1750 as 100%, then the increment is 114% of 1750.
=1750 * 114/100 = 1995.00.
Net increase is 1995 - 1750 = 245.
There is a total increase of 2 * 7% in the total interest of Rs. 1750.
i.e An additional 14% will be the extra amount added view increase in 2% from the existing SI.
If, we consider the existing total SI as 100%, ie Rs. 1750 as 100%, then the increment is 114% of 1750.
=1750 * 114/100 = 1995.00.
Net increase is 1995 - 1750 = 245.
Shivani Singh said:
9 years ago
1750 = P * R * 7/100 ------> equation1.
N = P * 102R * 7/100 ------> equation 2 (n is the value of S. I. If the interest is increased by 2 %).
Dividing equation 1 by equation 2, we get,
1750/n = 1/102.
N = 1750 * 102.
N = 178500.
So, the required value = 178500 - 1750.
= 176750.
N = P * 102R * 7/100 ------> equation 2 (n is the value of S. I. If the interest is increased by 2 %).
Dividing equation 1 by equation 2, we get,
1750/n = 1/102.
N = 1750 * 102.
N = 178500.
So, the required value = 178500 - 1750.
= 176750.
Prakash said:
9 years ago
Here, the interest is directly proportional to the rate of interest.
Prantik Mondal said:
9 years ago
If 2% increase the interest for 7 years, then (2 * 7)/100 = .14
So, for this .14 interest in 7 years is the extra earned money.
1750 * (0.14) = 245 Rs total earned in 7 year for extra 2% interest.
So, the answer is option "B".
So, for this .14 interest in 7 years is the extra earned money.
1750 * (0.14) = 245 Rs total earned in 7 year for extra 2% interest.
So, the answer is option "B".
Dua najeeb said:
9 years ago
How we solve it?
Find the rate %per annum by applying the formula: r = I * 100/t * p.
Rs. 700 gives Rs 210 simple interest in 3 years.
Find the rate %per annum by applying the formula: r = I * 100/t * p.
Rs. 700 gives Rs 210 simple interest in 3 years.
Pranav said:
9 years ago
Consider the initial rate of interest be 10%, then the principle is calculated to be 2000. Using 12% rate of interest the new SI is 2100. So the answer is Rs. 350.
Manjeet kumar said:
9 years ago
The Answer is 35.
Since the rate is increased by 2% so the S.I gets increased by 2%.
2% of 1750 = 35.
Since the rate is increased by 2% so the S.I gets increased by 2%.
2% of 1750 = 35.
Mars said:
9 years ago
@All.
Hi, Let me explain.
The answer the author comes up is actually correct.
While we think we can solve this problem by applying 'let x' solution, we are not, however.
This is because we are playing with the rate here and rate(%) is very tricky. Try to solve using 10% rate, you get 350. However, try to use another rate, say, 5%, you get 700 as the difference between the old rate and the plus 2 rate.
I believe in them by saying this question's answer is indeterminable due to lack of data reason.
Hi, Let me explain.
The answer the author comes up is actually correct.
While we think we can solve this problem by applying 'let x' solution, we are not, however.
This is because we are playing with the rate here and rate(%) is very tricky. Try to solve using 10% rate, you get 350. However, try to use another rate, say, 5%, you get 700 as the difference between the old rate and the plus 2 rate.
I believe in them by saying this question's answer is indeterminable due to lack of data reason.
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