A sum was put at simple interest at a certain rate for 2 years.had it been put 1 % higher rate , it would have fetched 24 more. find the sum
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let's us take Principal be x and rate be y.
=>time given= 2yrs. Simple interest =Principal×rate×time /100= x×y×2/100=xy/50.
In another case,Principal and time remains same and rate=y+1. New Simple Interest=x×(y+1)×2/100=
xy+x/50 =xy/50 +x/50.diffrrence between new and original simple Interests =₹24=xy/50+x/50-xy/50
=>24=x/50=>x=₹1200. Sum invested =₹1200.
=>time given= 2yrs. Simple interest =Principal×rate×time /100= x×y×2/100=xy/50.
In another case,Principal and time remains same and rate=y+1. New Simple Interest=x×(y+1)×2/100=
xy+x/50 =xy/50 +x/50.diffrrence between new and original simple Interests =₹24=xy/50+x/50-xy/50
=>24=x/50=>x=₹1200. Sum invested =₹1200.
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