Correct Answer - Option 3 : 162
Solution:
Formula Used:
SI = Amount – Principal
SI = P × T × R /100
Calculations:
Let the principal be Rs. x.
Amount = Rs. 132
SI = 132 – x ----(1)
Also SI = x × 2 × 5 /100 ----(2)
Equating equation (1) and (2)
⇒ x × 2 × 5 /100 = 132 – x
⇒ 11x = 1320
⇒ x = 120
If the rate becomes two times i.e. 10% per annum,
⇒ SI = 120 × 3.5 × 10 /100
⇒ SI = 42
⇒ Amount = 120 + 42 = Rs. 162
Hence it amounts Rs. 162 at the rate 10% for 3.5 years.