Rs. 7,500 amounts to Rs. 9,750 in 3 years at simple interest. What would it amount to in 3 years if the rate were 3% per annum higher?
Correct answer C. Rs. 10,425
Explanation
Rate = 2250 × 100 / (7500 × 3) = 10%. New rate 13%: SI = 7500 × 13 × 3 / 100 = 2925, so amount = Rs. 10,425.
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