Aptitude Day 190

Problems on Simple Interest:

1. A sum fetched a total simple interest of 2700 at the rate of 3% p.a. in 6 years. What’s the sum?

Solution:

                   S.I = PTR/100

                   P = 100*2700/3*6

                      = 15000.

2. 1000 becomes 1200 in 4 years at a certain rate of simple interest. If the rate of interest is increased by 2%, what amount will 1000 become in 3 years?

Solution:

                 S.I = PTR/100

                 S.I = 1200-1000 = 200

                 R = 100*200/1000*4

                 R = 5%

                 New R = 5+2 = 7%

                 S.I = 1000*2*7/100

                 S.I = 140.