Correct Answer: Rs. 992
Explanation:
Principal = Rs. 800
S.I. = Rs. (920 - 800) = Rs. 120
and Time = 3 years
∴ Original rate = (100 x SI) / (P x T) = (100 x 120) / ( 800 x 3) = 5%
New rate = 8%
Now, S.I . = Rs.(800 x 8 x 3) /100 = Rs. 192
∴ Amount = Rs. (800 + 192)
= Rs. 992
Discussion & Comments