If the rate increases by 2 the simple interest received on a sum of money increases by Rs 108 If the...........

Quant (SSC) Simple Interest

If the rate increases by 2%, the simple interest received on a sum of money increases by Rs. 108. If the time period is increased by 2 years, the simple interest on the same sum increases by Rs.180. The sum is ?

Rs. 540

Rs. 415

Rs. 404

Data is not sufficient

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Explanation:

Let the sum be Rs. p, rate be R% p.a. and time be T years.
Then,
(P×T×(R+2)/100)−(P×T×R/100)=108 ⇒2PT= 10800 ...... (1)
And,
(P×R×(T+2)/100)−(P×R×T/100)=180 ⇒2PR = 18000 ......(2)
Clearly, from (1) and (2), we cannot find the value of p
So, the data is not sufficient.