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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?
- a)Rs. 35
- b)Rs. 245
- c)Rs. 350
- d)Cannot be determined
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
A certain amount earns simple interest of Rs. 1750 after 7 years. Had ...
We need to know the S.I, principal and time to find the rate. Since the principal is not given, so data is inadequate.
Most Upvoted Answer
A certain amount earns simple interest of Rs. 1750 after 7 years. Had ...
I think data given in this question in not sufficient to solved it.
because we want atleast any one thing to solve this.( principle amount or rate of interest)
because we want atleast any one thing to solve this.( principle amount or rate of interest)
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Community Answer
A certain amount earns simple interest of Rs. 1750 after 7 years. Had ...
Given:
- Simple interest earned = Rs. 1750
- Time period = 7 years
To find:
- Increase in interest if the rate is 2% more
Solution:
Let's assume the principal amount as 'P' and the rate of interest as 'R'.
We know that,
Simple Interest = (P * R * T) / 100
Where, T is the time period.
From the given information, we can form an equation as follows:
1750 = (P * R * 7) / 100
On solving the above equation, we get:
P * R = 2500 --------(1)
Now, we need to find how much more interest will be earned if the rate is increased by 2%.
Let the new rate be (R + 2)
New Simple Interest = (P * (R + 2) * T) / 100
The increase in interest will be the difference between the new and old interest.
Increase in Interest = New Simple Interest - Old Simple Interest
= (P * (R + 2) * 7) / 100 - 1750
= (7P/100) * (R+2 - 200)
= (7P/100) * (R-198)
We don't have the value of P or R to calculate the increase in interest. Hence, the answer is 'Cannot be determined'.
Therefore, the correct option is (d) Cannot be determined.
- Simple interest earned = Rs. 1750
- Time period = 7 years
To find:
- Increase in interest if the rate is 2% more
Solution:
Let's assume the principal amount as 'P' and the rate of interest as 'R'.
We know that,
Simple Interest = (P * R * T) / 100
Where, T is the time period.
From the given information, we can form an equation as follows:
1750 = (P * R * 7) / 100
On solving the above equation, we get:
P * R = 2500 --------(1)
Now, we need to find how much more interest will be earned if the rate is increased by 2%.
Let the new rate be (R + 2)
New Simple Interest = (P * (R + 2) * T) / 100
The increase in interest will be the difference between the new and old interest.
Increase in Interest = New Simple Interest - Old Simple Interest
= (P * (R + 2) * 7) / 100 - 1750
= (7P/100) * (R+2 - 200)
= (7P/100) * (R-198)
We don't have the value of P or R to calculate the increase in interest. Hence, the answer is 'Cannot be determined'.
Therefore, the correct option is (d) Cannot be determined.
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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?a)Rs. 35b)Rs. 245c)Rs. 350d)Cannot be determinedCorrect answer is option 'D'. Can you explain this answer?
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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?a)Rs. 35b)Rs. 245c)Rs. 350d)Cannot be determinedCorrect answer is option 'D'. Can you explain this answer? for Quant 2025 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about 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?a)Rs. 35b)Rs. 245c)Rs. 350d)Cannot be determinedCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Quant 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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?a)Rs. 35b)Rs. 245c)Rs. 350d)Cannot be determinedCorrect answer is option 'D'. Can you explain this answer?.
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