A sum was put at simple interest at a certain rate for 2 years. Had it been put at 3% higher rate, it would have fetched...

Type: MCQ • Marks: 1

A sum was put at simple interest at a certain rate for 2 years. Had it been put at 3% higher rate, it would have fetched Rs. 300 more. Find the sum.

A. 1) Rs. 6,000

B. 2) Rs. 5,000

C. 3) Rs. 4,500

D. 4) Rs. 5,500

Explanation

Extra Interest = (P * Extra Rate * T) / 100. 300 = (P * 3 * 2) / 100 => 300 = 6P / 100 => P = (300 * 100) / 6 = Rs. 5,000.

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UP TGT Mathematics

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