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    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.
    Question

    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.

    A.

    2000

    B.

    10000

    C.

    5000

    D.

    15000

    Correct option is C

    Given
    Time = 2 years
    Increase in rate = 3%
    Extra interest = ₹ 300

    Formula Used
    Extra Interest = P×Increase in Rate×T100\frac{P \times \text{Increase in Rate} \times T}{100}​​

    Solution
    300=P×3×2100 300=6P100 P=300×1006=5000300 = \frac{P \times 3 \times 2}{100}\\\ \\300 = \frac{6P}{100}\\\ \\P = \frac{300 \times 100}{6} = 5000​​

    Final Answer
    So the correct answer is (c)

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