Aptitude - Simple Interest - Discussion

ANS : 245.

Interest is increased by 2% more,so (7 years) x 2% = 14%.
Interest is 1750, so now 1750 + 14% = 1995.
The difference between 1995-1750 = 245.

"Had the interest been 2% more, " - S.I is increased by 2% right? not the Rate of Interest (R).

All the solution are based on the percentage of a ate of interest. But if you don't know the actual amount how could you say that the 2% of this amount will be this?

@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.

The Answer is 35.

Since the rate is increased by 2% so the S.I gets increased by 2%.
2% of 1750 = 35.

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.

B is correct.

2% for 7 years will be 14%.
14% of 1750 is 245.

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".

Here, the interest is directly proportional to the rate of interest.

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.