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A sum of money was invested at a certain rate for 2 years. Had it been invested at 3% higher rate of interest, it would have fetched Rs. 450 more. The sum invested was---
  • a)
    Rs. 7500
  • b)
    Rs. 600
  • c)
    Rs. 5000
  • d)
    Rs. 4500
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
A sum of money was invested at a certain rate for 2 years. Had it been...
P x R X T / 100 is the simple interest
So, P x (R+3) x 2/100 - P x R x 2/ 100 = 450
Solving for P, we get P = 7500 Rs.
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A sum of money was invested at a certain rate for 2 years. Had it been invested at 3% higher rate of interest, it would have fetched Rs. 450 more. The sum invested was---a)Rs. 7500b)Rs. 600c)Rs. 5000d)Rs. 4500Correct answer is option 'A'. Can you explain this answer?
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A sum of money was invested at a certain rate for 2 years. Had it been invested at 3% higher rate of interest, it would have fetched Rs. 450 more. The sum invested was---a)Rs. 7500b)Rs. 600c)Rs. 5000d)Rs. 4500Correct answer is option 'A'. Can you explain this answer? for Railways 2024 is part of Railways preparation. The Question and answers have been prepared according to the Railways exam syllabus. Information about A sum of money was invested at a certain rate for 2 years. Had it been invested at 3% higher rate of interest, it would have fetched Rs. 450 more. The sum invested was---a)Rs. 7500b)Rs. 600c)Rs. 5000d)Rs. 4500Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Railways 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum of money was invested at a certain rate for 2 years. Had it been invested at 3% higher rate of interest, it would have fetched Rs. 450 more. The sum invested was---a)Rs. 7500b)Rs. 600c)Rs. 5000d)Rs. 4500Correct answer is option 'A'. Can you explain this answer?.
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