Question:
A sum was put at simple interest at a certain rate for 2 years. Had it been put at 1% higher rate, it would have fetched Rs 24 more. The sum is:
A600
B800
C1200
D480
Answer:
C. 1200
Explanation:
Suppose sum= P Simple interest at certain rate r% for 2 years = P x rx2/100 = Pr/50 Also, simple interest at (r+1)% for 2 years = P x (r+1) x 2 /100=Px(r+1)/ 50 According to the question P (r+1)/50 -pr/50=24 or p/50=24 p=1200