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At a simple rate of interest, an amount of Rs.2100 becomes Rs. 2352 in 2 years. If the interest rate is decreased by 1% then what is the new interest in 2 years?
- a)Rs. 210
- b)Rs. 220
- c)Rs. 242
- d)Rs. 252
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
At a simple rate of interest, an amount of Rs.2100 becomes Rs. 2352 in...
Interest = PRT/100
Amount = Principal + Interest
Let the rate be r%
Interest = (2100 × r × 2)/100
2352 - 2100 = (2100 × r × 2)/100
252 = 42r ⇒ r = 6%
New rate of interest = r - 1 = 5%
Interest when r% is 5% = (P × (5) × 2)/100 = (2100 × 5 × 2)/100 = Rs. 210
Most Upvoted Answer
At a simple rate of interest, an amount of Rs.2100 becomes Rs. 2352 in...
Given:
- Principal amount (P) = Rs. 2100
- Amount after 2 years (A) = Rs. 2352
To find:
- New interest after decreasing the interest rate by 1% in 2 years
Formula:
Simple Interest (SI) = (P * R * T) / 100
Amount (A) = P + SI
Calculation:
Given that the principal amount (P) is Rs. 2100 and the amount after 2 years (A) is Rs. 2352.
Let's assume the interest rate is R% and the time period is 2 years.
Using the formula for simple interest, we can write the equation as:
SI = (P * R * T) / 100
Substituting the given values, we have:
SI = (2100 * R * 2) / 100
We can rearrange this equation to solve for R:
R = (SI * 100) / (2100 * 2)
Now, let's calculate the interest rate (R):
R = (252 * 100) / (2100 * 2)
R = 12 / 2
R = 6%
So, the initial interest rate is 6%.
Now, we need to find the new interest rate after decreasing it by 1%.
New interest rate = 6% - 1% = 5%
Now, let's calculate the new interest after 2 years using the new interest rate:
New SI = (P * New R * T) / 100
New SI = (2100 * 5 * 2) / 100
New SI = 210 * 5
New SI = Rs. 1050
Therefore, the new interest in 2 years is Rs. 1050, which is option A.
- Principal amount (P) = Rs. 2100
- Amount after 2 years (A) = Rs. 2352
To find:
- New interest after decreasing the interest rate by 1% in 2 years
Formula:
Simple Interest (SI) = (P * R * T) / 100
Amount (A) = P + SI
Calculation:
Given that the principal amount (P) is Rs. 2100 and the amount after 2 years (A) is Rs. 2352.
Let's assume the interest rate is R% and the time period is 2 years.
Using the formula for simple interest, we can write the equation as:
SI = (P * R * T) / 100
Substituting the given values, we have:
SI = (2100 * R * 2) / 100
We can rearrange this equation to solve for R:
R = (SI * 100) / (2100 * 2)
Now, let's calculate the interest rate (R):
R = (252 * 100) / (2100 * 2)
R = 12 / 2
R = 6%
So, the initial interest rate is 6%.
Now, we need to find the new interest rate after decreasing it by 1%.
New interest rate = 6% - 1% = 5%
Now, let's calculate the new interest after 2 years using the new interest rate:
New SI = (P * New R * T) / 100
New SI = (2100 * 5 * 2) / 100
New SI = 210 * 5
New SI = Rs. 1050
Therefore, the new interest in 2 years is Rs. 1050, which is option A.
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At a simple rate of interest, an amount of Rs.2100 becomes Rs. 2352 in 2 years. If the interest rate is decreased by 1% then what is the new interest in 2 years?a)Rs. 210b)Rs. 220c)Rs. 242d)Rs. 252Correct answer is option 'A'. Can you explain this answer?
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At a simple rate of interest, an amount of Rs.2100 becomes Rs. 2352 in 2 years. If the interest rate is decreased by 1% then what is the new interest in 2 years?a)Rs. 210b)Rs. 220c)Rs. 242d)Rs. 252Correct answer is option 'A'. Can you explain this answer? for Railways 2024 is part of Railways preparation. The Question and answers have been prepared according to the Railways exam syllabus. Information about At a simple rate of interest, an amount of Rs.2100 becomes Rs. 2352 in 2 years. If the interest rate is decreased by 1% then what is the new interest in 2 years?a)Rs. 210b)Rs. 220c)Rs. 242d)Rs. 252Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Railways 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for At a simple rate of interest, an amount of Rs.2100 becomes Rs. 2352 in 2 years. If the interest rate is decreased by 1% then what is the new interest in 2 years?a)Rs. 210b)Rs. 220c)Rs. 242d)Rs. 252Correct answer is option 'A'. Can you explain this answer?.
At a simple rate of interest, an amount of Rs.2100 becomes Rs. 2352 in 2 years. If the interest rate is decreased by 1% then what is the new interest in 2 years?a)Rs. 210b)Rs. 220c)Rs. 242d)Rs. 252Correct answer is option 'A'. Can you explain this answer? for Railways 2024 is part of Railways preparation. The Question and answers have been prepared according to the Railways exam syllabus. Information about At a simple rate of interest, an amount of Rs.2100 becomes Rs. 2352 in 2 years. If the interest rate is decreased by 1% then what is the new interest in 2 years?a)Rs. 210b)Rs. 220c)Rs. 242d)Rs. 252Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Railways 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for At a simple rate of interest, an amount of Rs.2100 becomes Rs. 2352 in 2 years. If the interest rate is decreased by 1% then what is the new interest in 2 years?a)Rs. 210b)Rs. 220c)Rs. 242d)Rs. 252Correct answer is option 'A'. Can you explain this answer?.
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