Question

A sum was put at a certain rate for 3 years. Had it been out at 4% higher rate, it would have fetched rs 600 more.Find the sum

Answer 1

Step-by-step explanation:

Let the sum be P.

And the original rate be y% per annum.

Then new rate=(y+4)% per annum

According to question, [(P × (y+4) × 2)/100]=[(P × y × 2)/100]=600

∴ [(Py + 4P)/100]=[Py/100] = 300

∴ Py+ 4P - Py=30000

∴ 4P=30000

∴ P= 7500

Thus, the sum is Rs 7500