A sum was put at simple interest at a certain rate for 10 years Had it been put at 5 higher rate it ...........

Quant (SSC) Simple Interest

A sum was put at simple interest at a certain rate for 10 years . Had it been put at 5% higher rate , it would have fetched Rs.600 more. What was the Sum?

Rs.1200

Rs.1300

Rs.1400

Rs.1500

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Explanation:

At 5% more rate, the increase in S.I for 10 years = Rs.600 (given)
So, at 5% more rate, the increase in SI for 1 year = 600/10 = Rs.60/-
i.e. Rs.60 is 5% of the invested sum
So, 1% of the invested sum = 60/5
Therefore, the invested sum = 60 × 100/5 = Rs.1200