Question

A sum of money was put at simple interest in a Bank at a certain rate for 2 years. Had it been at 3% higher rate in Bank B, it would have fetched 600 more. Find the sum. ​

Answer 1

Answer:

1250

Step-by-step explanation:

We have,

R=2%

S.I=Rs. 50

T=2 years

P=?

We know that

S.I=

100

PRT

So,

50=

100

P×2×2

50=

100

P×4

50=

25

P

P=Rs. 1250

Hence, this is the answer.