Bhumika deposited ₹8,000, which amounted to ₹9,200 after 3 years at r% p.a. simple interest. Had the interest rate been 2% more, that is, (r + 2)% per annum, what amount would she have received?

Correct option is A

Given:

Rate of interest = r%

Time = 3year

Principle = ₹8,000

Amount = ₹9200

Formula Used:

​$$SI = \frac{P\times R\times T}{100}$$​​

Amount = Principle + Interest

Solution:

Interest = 9200 - 8000 = ₹1200

​$$1200 = \frac{8000\times r\times 3}{100}$$​​

​$$r = \frac{1200 \times 100}{8000 \times 3}$$​​

r = 5%

If rate would have been (r + 2)% = 7%

​$$Interest =\frac{8000\times 7\times 3}{100}$$​​

= 1680

Amount Bhumika would have received = 8000 + 1680 = ₹9680