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 8 of 10.
Kunal roy said:
7 years ago
As per data specified p and yr are constant only rates changes.
Moreover, SI is directly proportional.
So, I think the answer would be 35.
Moreover, SI is directly proportional.
So, I think the answer would be 35.
(1)
Ajit arya said:
7 years ago
According to me;
Interest for 7 yr is 1750 means
For 1 yr interest is 250.
So assume the interest is 10% this way principle amount becomes 2500.
And now 8% interest for 7 yr of 2500 = 1400.
So the more interest earned = (1750-1400) = 350 ans.
Interest for 7 yr is 1750 means
For 1 yr interest is 250.
So assume the interest is 10% this way principle amount becomes 2500.
And now 8% interest for 7 yr of 2500 = 1400.
So the more interest earned = (1750-1400) = 350 ans.
Soumya Gochhayat said:
7 years ago
Let Principal=100 so,
1st interest = prt/100,
=> 1750= (100 * r * 7)/100,
=> r = 250,
Then if r increases by 2%,
then r =250*102/100 = 255,
so 2nd interest = (100 * 255 * 7)/100 = 1785,
Difference = 1785 - 1750 = 35. (ans).
1st interest = prt/100,
=> 1750= (100 * r * 7)/100,
=> r = 250,
Then if r increases by 2%,
then r =250*102/100 = 255,
so 2nd interest = (100 * 255 * 7)/100 = 1785,
Difference = 1785 - 1750 = 35. (ans).
Koko said:
7 years ago
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.
Roneet said:
6 years ago
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.
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.
Sanju manna said:
6 years ago
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.
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.
Gopal Gupta said:
6 years ago
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.
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.
Markie said:
5 years ago
The answer cannot be determined because the principal is not given and we cannot assume rate r to be 100 or any value. Thanks.
Puthiabala said:
5 years ago
The Answer is 35.
Equation One = 7*P*R/100=1750
to be found (7*P*R+2)/100 = ?
we can rewrite as (7*P*R)100 + 2/100 = ?
and then 1750 + 2/100 = 35.
Equation One = 7*P*R/100=1750
to be found (7*P*R+2)/100 = ?
we can rewrite as (7*P*R)100 + 2/100 = ?
and then 1750 + 2/100 = 35.
(1)
Abhinav said:
5 years ago
According to me, the correct answer is 35.
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