Question

A sum of money was put at simple interest at a certain rate for 5 years. Had it been put
at 2% higher rate, it would have fetched Rs.4,000 more. Find the sum.​

Answer 1

Given,

Time = 5 years

If the rate was 2% higher then the interest will be 4000 greater.

To find,

The sum of the money.

Solution,

We can simply solve this mathematical problem by using the following mathematical process.

Let, principal amount = Rs. p

Initial rate = r%

So, interest in first case = (p×r×5)/100 = Rs. pr/20

Rate in second case = (r+2)%

Interest in second case = p×(r+2)×5/100 = Rs. pr+2p/20

According to the data mentioned in the question,

pr/20 + 4000 = (pr+2p)/20

(pr+80000)/20 = (pr+2p)/20

pr+80000 = pr+2p

80000 = 2p

2p = 80000

p = 40000

Hence, the sum of money was Rs. 40000

Answer 2

Answer:

52000

40000

48000

50000