A certain sum is invested at simple interest at 18% p.a. for two years instead of investing at 12% p.a. for the same time period. Therefore the interest received is more by Rs. 840. Find the sum?
Options:
A . Rs. 7000
B . Rs. 8500
C . Rs. 8000
D . Rs. 7500
E . None of these
Answer: Option A
Let the sum be Rs. x.(x * 18 * 2)/100 - (x * 12 * 2)/100 = 840 => 36x/100 - 24x/100 =840=> 12x/100 = 840 => x = 7000.
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