A sum was invested for 3 years at simple interest at a certain rate. Had it been invested at 4% higher rate of interest, it would have fetched Rs 600 more. The sum is
A) Rs 4000 B) Rs 4950 C) Rs 5000 D) Rs 5150
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The answer is C
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
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