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 7 of 10.
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.
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".
Prakash said:
9 years ago
Here, the interest is directly proportional to the rate of interest.
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.
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.
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.
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.
Manisha said:
9 years ago
I think, here rate of interest is obviously in percent, i.e. increased by 2% simply means, r% will become (r+2)%, thus we can't get 35 as an answer. We need to know rate of interest for it which can't be evaluated due to insufficient data. Thus answer will be 'D'.
Simanta said:
9 years ago
I think the answer will be Rs. 35 because if we take the ratio of the two simple interests then the principal, time and rate of interest cancelled out. In RHS it is 7/7.14. In LHS it is 1750/ (SI2).
After solving the answer will be Rs. 35.
After solving the answer will be Rs. 35.
Shubham said:
9 years ago
They are asking about the amount of increase. So 35 is the answer.
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