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:
Let $$x$$ be the sum of money invested at simple interest and $$r$$ be the rate of interest.
The interest at the end of 2 years=$$P$$x$$t$$x$$r/100=2xr$$ -(1)
The interest at the end of 2 years if $$r$$ is increased by 3%=$$2x(r+3)$$ -(2)
Given (2)-(1)=450
=>$$6x=450$$
∴$$x= 7500$$
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