Aptitude - Simple Interest - Discussion

Here, the 2% more interest means in absolute S.I terms, as in if it was 6% interest then how much more would you earn if you had 8% interest, not 6% x 1.02 which is 6.12%. Since we cannot calculate the S.I itself, we will never be able to find the answer. Please anyone help me to get it.

Assuming the rate of interest to be 10% in 1st case we get;
P=(1750*100)/(10*7),
P=2500.

So applying the principal in 2nd case we get,
S.I=(2500*10.2*7)/100.

Here, the rate of interest is taken to be 10.2 since 2% more of 10 that is assumed in 1st case.

S.I=1785.

So 2nd S.I - 1st S.I will be;

1785-1750=35 This should be the answer but as the rate is not mentioned and it is assumed so the answer may vary from person to person and also method to method of solving.

Here the answer is 35.

Because 2% is not the increasing percentage of rate of interest it is only the increase in the total interest which is given below.
So, the 2% of 1750 is 35.

According to me, the question says to increase the rate by 2%. Which means if the original is R% then the new rate is (R+2)%.

So old interest.
I=PR*7/100.

And new interest.
I'=P*(R+2)*7/100.

Thus the answer can't be determined without the principal.

The answer cannot be determined because the principal is not given and we cannot assume rate r to be 100 or any value. Thanks.

According to me, the correct answer is 35.

As per my knowledge answer is 245.

SI for 7 years =1750.
RoI increases 2% means 7years *2% =14% increased so;
100% ------ 1750 means,
114% ------ =( 1750*114) /100 = 1995,
Interest increased = 1995-1750 = 245.

r is rate of interest.

Increased rate of interest is 1.02r because increased rate is 2%= (2÷100).
p*7*r=1750*100 ==> eq 1.
p*7*1.02*r=(1750+x)100==> eq 2 (x is incresed rs).
eq1& 2 is written as below.
7pr=175000 ==>eq 3.
7.14pr=175000+100x==> eq 4.

Upon solving both eqn 3*4.
0.14pr=100x==>eq 5.
by solving eqn 1 we get pr=25000.
By substituting that in eq 5.
0.14*250 = x.
so, x = 35.

We can find the principle by using this formula but we need to assume the interest rate.
P = si/(r*t).

No, @Jaimunis.

1750/7=250 is the correct answer.