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.
Options:
A . Rs.4000
B . Rs.9000
C . Rs.5000
D . Rs.6000
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
Submit Comment/FeedBack