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A sum was put at simple interest at a certain rate for 3 years.
Question 1:
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.
A.
Rs.9000
B.
Rs.6000
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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
C.
Rs.7000
D.
Rs.8000
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Practice Simple Interest Online Test 5 | Englishfreetest.com
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