A sum was put at simple interest at certain rate for 3 years. Had it been put at 2% higher
rate, it would have fetched 360 more. Find the sum.
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Answer:
T=3years
R=2%
I=360
P=?
Solution
According to formula
I=P×T×R by 100
360=2×3 by 100
36000=6
:.P=6000
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