Q. A sum was put at simple interest at a certain rate for 3 years. Had it been put at 2% higher rate, it would have fetched Rs 360 more. Find the sum.
Explanation by: Chandani
Let sum = P and original rate = R. Then [(P * (R+2) * 3)/100] - [ (P * R * 3)/100] = 360 3P*(R+2) - 3PR = 36000 3PR + 6P - 3PR = 36000 6P = 36000 P = 6000
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