₹800 amounts to ₹920 in 3 years at simple interest.

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₹800 amounts to ₹920 in 3 years at simple interest. If the interest rate is increased by 3%, it would amount to

Given that , Amount = ₹ 920 and Principal = ₹ 800
∴ S.I. = Amount - Principal = ₹ (920 – 800) = ₹ 120

∴ Rate =	Interest × 100
	Principal × Time

Rate =	120 × 100	= 5% per annum
	800 × 3

New rate = 8% per annum

∴ SI =	800 × 8 × 3	= ₹ 192
	100

∴ Amount = Principal + SI = (800 + 192) = ₹ 992