A sum of $500 amounts to 600 in 2 years at simple interest. If the interest rate is increased by 10% it would amount to how much ?
Answers.
A) $500
B) $700
C) $800
D) $600
E) $300
S.I = 600-500= 
<gadget id="calculator">600-500</gadget>
<output>100</output>
100   P= $500   T = 2 years   R = 100*100 / 500*2 = 10%   New rate = 10+10= 
<gadget id="calculator">10+10</gadget>
<output>20</output>
20%   New S.I.= 500*20*2/100= 
<gadget id="calculator">500*20*2/100</gadget>
<output>200</output>
$200   New amount= 500+200= 
<gadget id="calculator">500+200</gadget>
<output>700</output>
$700   Answer is $700
<result>B</result>
A sum of $500 amounts to 600 in 2 years at simple interest. If the interest rate is increased by 10% it would amount to how much ?