Question

a sum of money was put at simple interest at a certain rate for 2 years. if the sum had been put at 3% higher rate it would have earned 720 more than as interest. find the sum​

Answer 1

Answer:

HERE IS YOUR ANSWER

Step-by-step explanation:

SEE THIS ATTACHMENT.

Answer 2

Answer:

The Question clearly states that 3% more produces 720 for 2 years

So 3% produces 720/2 for 1 year

which is 360 per year

Interest= P*T*R/100

360 = P*1*3 / 100

On Solving P=360*100/3

P=12,000

You can also solve like this,

3% = 360

!00%(Prinncipal) =?

100% = (360/3)*100 = 12000

Step-by-step explanation: