NIFT PG 2013 Question Paper with solutions

Question : 54 of 150

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. The sum is

Solution:

Let sum is P.
According to the question,
Difference of two interest

=300

300=\;\;{P×(r+3)×2}/{100}-\;\;{{Pr}×2}/{100}

300={6P}/100

P={300×100}/6=5000

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