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Discussion

  1. A sum was put at simple interest at a certain rate for 2 years . Had it been put at 3% higher rate, it would have fetched Rs 300 more. The sum is
    1. Rs 5000
    2. Rs 6000
    3. RS 7000
    4. None Of these
  1. Correct Option: A

    Let the sum be P.
    And the original rate be y% per annum.
    Then new rate=(y+3)% per annum
    According to question, [(P × (y+3) × 2)/100]=[(P × y × 2)/100]=300
    ∴ [(Py + 3P)/100]=[Py/100] = 150
    ∴ Py+ 3P - Py=15000
    ∴ 3P=15000
    ∴ P= 5000
    Thus, the sum is Rs 5000


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