A sum of money was invested at a certain rate of simple interest for 2 years . H

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A sum of money was invested at a certain rate of simple interest for 2 years . Had it been invested at 1% higher rate, it would have fetched Rs.24 more interest. The sum of money is :

Options:

A . Rs.1050

B . Rs.1200

C . Rs.9600

D . Rs.1000

Answer: Option B
Answer: (b)${P × 1 × 2}/100 = 24$P = $2400/2$ = Rs.1200Using Rule 13,$P_1 = P, R_1 = R, T_1$ = 2.$P_2 = P, R_2 = R + 1, T_2$ = 2S.I.= Rs. 2424 = ${P(R +1)2 - PR2}/100$2400 = 2PR + 2P - 2PRP = Rs.1200

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