Select the correct answerA sum was put at simple interest at a certain rate for 2 years. Had it been put at 4% higher rate, it would have fetched Rs. 112 more. The sum is:
Question
Select the correct answerA sum was put at simple interest at a certain rate for 2 years. Had it been put at 4% higher rate, it would have fetched Rs. 112 more. The sum is:
Solution
The problem is about simple interest and we can use the formula for simple interest to solve it. The formula for simple interest is I = PRT/100, where I is the interest, P is the principal amount (the initial sum), R is the rate of interest, and T is the time.
In this problem, we know that the time is 2 years and the difference in interest is Rs. 112 when the rate is increased by 4%. We can set up the equation as follows:
112 = P * 4 * 2 / 100
Solving for P, we get:
P = 112 * 100 / (4 * 2) = Rs. 1400
So, the sum is Rs. 1400.
Similar Questions
Select the correct answerA sum was invested on simple interest at a certain rate for 2 years. Had it been put at 3% higher rate, it would have fetched 72 more. The sum is
A sum was put at simple interest at a certain rate for 2 years. Had it been put at 4% higher rate, it would have fetched Rs. 112 more. The sum is:Options1120120080001400
A sum was put at simple interest at certain rate for 3 years. Had it been put at 2% lesser ratio,it would have fetch Rs.600 less.Find the sum.Rs.1000
The rate of interest on a Sum of money is 4% p.a. for the first two years and 6% p.a. for the next 4 years, 8% p.a. for the period beyond 6 years. If the S.I. occurred by the Sum for a total period of 9 years is Rs. 1120 then find the Sum.
Select the correct answerA sum of money in 3 years becomes 1344 and in 7 years, becomes Rs. 1536. What is the principal sum where simple rate of interest is to be unchanged?Options1200150040002800
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.