QA – Placement Quizzes | Simple Interest | Question 15

A certain amount was lent at a rate R for 2 yrs at SI. If it been put at 3% higher rate, it would have fetched Rs 300 more. Find the amount?
(A) 5500
(B) 6000
(C) 5000
(D) 4500


Answer: (C)

Explanation: SI = P X R X 2/100………..(1)
SI+300 = PX(R+3) X 2/100…..(2)
P=5000

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