Question

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.​

Answer 1

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