NIACL Model Paper 1 with solutions for free online practice

Question : 22 of 100

Marks: +1, -0

A sum was put at simple interest at a certain rate for 2 years.Had it been put at 3% higher rate, it would have fetched ₹ 300 more. Find the sum.

Solution:

∴{x×(y+3)×2}/100-{x×y×2}/100=300

xy+3x-xy = 15000

∴x = 5000 Thus, the sum = ₹5000

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