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?
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Answer (Detailed Solution Below)Option 1 : Rs. 210 Free 10 Questions 10 Marks 7 Mins 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 Last updated on Sep 21, 2022 The RRB (Railway Recruitment Board) has released the Result, and Cut Off marks for the CBAT (Computer Based Aptitude Test) stage for Pay Level 6. The result and cut-off marks are announced for the RRB Chandigarh, Bhopal & Chennai regions for the recruitment cycle 2021. The exam is conducted to fill up a total number of 35281 vacant posts. Candidates who are qualified for the Computer Based Aptitude Test will be eligible for the next round, which will be Document Verification & Medical Exam. The candidates with successful selection under RRB NTPC will get a salary range between Rs. 19,900 to Rs. 35,400. Know the RRB NTPC Result here. Stay updated with the Quantitative Aptitude questions & answers with Testbook. Know more about Interest and ace the concept of Simple Interest. Free RRB Group D: Memory Based Question Full Test based on 17 Aug 2022 100 Questions 100 Marks 90 Mins Latest RRB Group D Updates Last updated on Sep 27, 2022 The Railway Recruitment Board has released RRB Group D Phase 5 Admit Card. The exam will be conducted on 6th and 11th October 2022 only for the RRC South Western Railway. Currently, the Phase 4 is running and this will continue till 7th October 2022. The RRB (Railway Recruitment Board) is conducting the RRB Group D exam to recruit various posts of Track Maintainer, Helper/Assistant in various technical departments like Electrical, Mechanical, S&T, etc. The selection process for these posts includes 4 phases- Computer Based Test Physical Efficiency Test, Document Verification, and Medical Test. Let's discuss the concepts related to Interest and Simple Interest. Explore more from Quantitative Aptitude here. Learn now! Solution: The difference of interest for 2 years and 3 years on a sum of ₹2100 at 8% per annum is _________. We have to fill in the blanks to make the statement true. Interest = P × R × T/100 Given, P = ₹2100 R = 8% For 2 years, I = 2100 × 8 × 2/100 = 21 × 16 = ₹336 For 3 years, I = 2100 × 8 × 3/100 = 21 × 24 = ₹504 Difference of interest = 504 - 336 = ₹168 Therefore, the required value is ₹168. ✦ Try This: The difference of interest for 4 years and 5 years on a sum of ₹2800 at 5% per annum is _________. Fill in the blanks to make the statement true. ☛ Also Check: NCERT Solutions for Class 7 Maths Chapter 8 NCERT Exemplar Class 7 Maths Chapter 7 Problem 53 The difference of interest for 2 years and 3 years on a sum of ₹2100 at 8% per annum is _________. Fill in the blanks to make the statement trueSummary: The difference of interest for 2 years and 3 years on a sum of ₹2100 at 8% per annum is ₹168. ☛ Related Questions:
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On what sum will the difference between the simple and compound interest for 3 years at 5 per annum?The difference between simple and compound interest on a sum for 3 years at 5% p.a. is Rs. 76.30 .
On what sum does the difference between simple interest and compound interest for two years at 5 percent Rs 15?Hence, the sum is Rs. 6000.
On what sum of money will the difference between SI and CI for 2 years at 5% per annum be equal to 25?This is Expert Verified Answer
Hence, the required answer is Rs. 20,000.
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What is the difference of interest for 2 years and 3 years on a sum of ₹ 2100 at 8% per annum?
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