Question

A sum was put at SI at a certain rate for 2 yrs. Had it been put at 3% higher rate, it would have fetched Rs. 300 more. Find the sum. 

(A) 2000 

(B) 6000 

(C) 7000 

(D) 5000 

Answer 1

Correct option (D) 5000    

Explanation:

Let the sum be Rs x and the original rate be y% per annum. Then, new rate = (y + 3)% per annum

xy + 3x – xy = 15,000 or, x = 5000 

Thus, the sum = Rs. 5000