A sum of $800 amounts to $920 in 3 years at simple interest. If the interest rate is increased by 3% it would amount to how much ?  Choose the correct choice
A) $ 506
B) $ 774
C) $ 992
D) $ 854
E) $ 1021

Rationale: s . i = 920 - 800 = 120 p = $ 800 t = 3 years r = 100 * 120 / 800 * 3 = 5 % new rate = 5 + 3 = 8 % new s . i . = 800 * 8 * 3 / 100 = $ 192 new amount = 800 + 192 = $ 992 answer is c
Answer: C