Question

a sum of money is invested for 3 years at a certain rate of interest. had the rate of interest 1% more, it should have fetched rs18 more than before. find the sum invested.

Answer 1

Answer:

More interest paid in 2 years

=\( \Large 2 \times 1=2 \% \)2×1=2%2×1=2%

According to the question,

2%of sum=Rs.242%of sum=Rs.24

1%ofsum=Rs.2421%ofsum=Rs.242

242×100242×100=Rs. 1200

Answer 2

Let the rate of interest be R

(Interest at rate (R+4)%)–(Interest at R%)

= 600(PT(R+4)/100) –(PTR/100)

= 6003PR +12P –3PR = 60000

12P = 60000

P = 5000

Subject: Simple Interest - Quantitative Aptitude - Arithmetic Ability