1.

At a certain rate of simple interest Rs 2000 amounted to Rs 2400 in four years. If the rate of interest be decreased by 2%, what will be the amount after 4 years ?

Answer»

Rs 2240



Initially rate of INTEREST = 400x100/2000x4 = 5%
Now rate of interest = 5 - 2 = 3%
NEW interest = 2000x4x3/100 = 240
∴ Net amount = 2000 + 240 = 2240



Discussion

No Comment Found

Related InterviewSolutions