Question
A sum was put a simple interest at a certain rate for 3 years . Had it been put at 2% higher rae , it would have fetched Rs. 360 more . Find the sum .
Answer: Option C
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Let sum = P and original rate = R. Then ,` [{P xx (R + 2) xx 3)/(100)] - [(P xx R xx 3)/(100)]` = 360
`hArr` 3PR + 6P - 3PR = 3600
`hArr` 6P = 36000
`hArr` P = 6000.
Hence , sum = Rs. 6000
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