Multiple Choice Questions on A sum was put at simple interest at a certain rate for 3 years Had it been put at 2 higher rate it w........... for CLAT : Law entrance Exam Preparation

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Multiple Choice Questions

A sum was put at simple interest at a certain rate for 3 years Had it been put at 2 higher rate it w...........

Quantitative Aptitiude (CLAT) Simple Interest
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    A sum was put at simple interest at a certain rate for 3 years. Had it been put at 2% higher rate, it would have fetched Rs 360 more. Find the sum.

    4000

    Incorrect Answer

    5000

    Incorrect Answer

    6000

    Correct Answer

    9000

    Incorrect Answer
    Explanation:

    Let sum = P and original rate = R. Then

    [(P * (R+2) * 3)/100] - [ (P * R * 3)/100] = 360

    3P*(R+2) - 3PR = 36000

    3PR + 6P - 3PR = 36000

    6P = 36000

    P = 6000

    By: Parvesh Mehta
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