A sum was invested at a certain rate of simple interest per annum for 2 years. Had it been invested at 2% per annum more than the existing rate, the simple interest accrued in the 2 years would have been ₹240 more. Find the sum invested.

Correct option is A

Given:

Time = 2 years

Difference in rate = 2% per annum

Difference in Simple Interest = ₹240

Formula Used:

Difference in SI = $$\frac{P \times \text{(Difference in rate)} \times T}{100}$$ 

Solution:

Let be the invested sum is P.

Difference in SI =$$\frac{P \times \text{(Difference in rate)} \times T}{100}$$ ​

$$240 = \frac{P \times 2 \times 2}{100}$$ 

$$240 = \frac{4P}{100}$$ 

$$P = \frac{240 \times 100}{4} = 6,000$$ 

Thus, the Correct Answer is (A).

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