A sum was put at simple interest at a certain rate for 2 years. Had it been put at 1% higher rate, it would have fetched Rs. 24 more, The sum is?

Question

Accepted Answer

Let sum = P and original rate = R% per annum Then, [(P x (R + 1) x 2)/100] - [(P x R x 2)/100] = 24 ⇒ P = 1200

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