Question

a sum was put at simple interest at a certain rate for 2 yeatrs . Had it been put at 1 % higher rate ,it would fetched rs 24 more . then the sum is ??

Answer 1

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