Question
A sum was put at simple interest at a certain rate for 3 years. Had it been put at 2% higher rate, it would have fetched Rs 360 more. Find the sum.
Answer: Option D
LET SUM = P AND ORIGINAL RATE = R. THEN
[(P * (R+2) * 3)/100] – [ (P * R * 3)/100] = 360
3P*(R+2) – 3PR = 36000
3PR + 6P – 3PR = 36000
6P = 36000
P = 6000
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LET SUM = P AND ORIGINAL RATE = R. THEN
[(P * (R+2) * 3)/100] – [ (P * R * 3)/100] = 360
3P*(R+2) – 3PR = 36000
3PR + 6P – 3PR = 36000
6P = 36000
P = 6000
Was this answer helpful ?
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