A sum was lent at simple interest at a certain rate for

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A sum was lent at simple interest at a certain rate for 2 years. Had it been lent at 3% higher rate, it would have fetched ₹300 more. The original sum of money was :

If the principal be p, then
We can find the required answer with the help of given formula ,

∴ SI =	P × R × T
	100

p × 3 × 2	= 300
100

⇒ p =	300 × 100	= ₹ 5000
	3 ⇒ 2

Second method to solve this question :
P₁ = P, R₁ = R, T₁ = 2.
P₂ = P, R₂ = R + 3, T₂ = 2 , S.I.= ₹ 300

∴ SI =	P₂ × R₂ × T₂ - P₁ × R₁ × T₁
	100

300 =	P × (R + 3) × 2 - PR2
	100

300 =	6P
	100

P = ₹ 5000