What will be the Sum After 3 Years? If

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 ₹ 300 more. The sum is

  1. ₹ 5,300
  2. ₹ 5,500
  3. ₹ 5,000
  4. ₹ 5,400
Monis Rasool Professor Asked on 15th September 2015 in Maths.
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1 Answer(s)

Answer: (3) Rs. 5,000

Explanation:-
Let the principal be Rs. X and rate = R%.
Then, Simple Interest = X x 2 x R/100
If rate of increased by 3%,
Then, 2 X R/100 + 300 = 2 X x (R + 3)/100
(2 X R + 30000)/100 = 2 X (R + 3)/100
2 X R + 30000 = 2 X R + 6 X R
6 X R = 30000
X R = 30000/6
X = 5000

Hence, the answer is (3) Rs. 5, 000.

Anurag Mishra Professor Answered on 15th September 2015.
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