Question

A sum was put at simple interest at a certain rate for 2 years. Had it been put

at 1% higher rate, it would have fetched Rs. 24 more. The sum is:​

Answer 1

Answer:

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.