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.

Correct option is C

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

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

Solution
​$$300 = \frac{P \times 3 \times 2}{100}\\\ \\300 = \frac{6P}{100}\\\ \\P = \frac{300 \times 100}{6} = 5000$$​​

Final Answer
So the correct answer is (c)