Question

16. A certain sum of money was invested at a certain rate for 3 years. Had it been
invested at 2% higher rate, it would have fetched 360 more. Find the sum,
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Answer 1

Answer:

Rs.6000

Step-by-step explanation:

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