A certain amount earns simple interest of ₹ 1 | vedclass

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(D) Let the principal amount be $P$ and the rate of interest be $R \%$. Simple Interest $(SI)$ is given by the formula: $SI = \frac{P 	imes R 	imes

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Cannot be determined

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(D) Let the principal amount be $P$ and the rate of interest be $R \%$. Simple Interest $(SI)$ is given by the formula: $SI = \frac{P 	imes R 	imes T}{100}$. Given $SI = 1750$,$T = 7$ years. So,$1750 = \frac{P 	imes R 	imes 7}{100} \implies P 	imes R = \frac{1750 	imes 100}{7} = 25000$. If the interest rate increases by $2 \%$,the new rate is $(R + 2) \%$. The new interest earned would be $SI_{new} = \frac{P 	imes (R + 2) 	imes 7}{100}$. The extra interest earned is $SI_{new} - SI = \frac{P 	imes (R + 2) 	imes 7}{100} - \frac{P 	imes R 	imes 7}{100}$. Extra Interest $= \frac{P 	imes R 	imes 7 + P 	imes 2 	imes 7 - P 	imes R 	imes 7}{100} = \frac{P 	imes 2 	imes 7}{100} = \frac{14P}{100} = 0.14P$. Since the principal $P$ is not provided,the exact value of the extra interest cannot be determined.

$A$ certain amount earns simple interest of ₹ $1,750$ after $7$ years. Had the interest rate been $2 \%$ more per annum,how much more interest would it have earned (in ₹)?

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