A sum was put at simple interest at a certain rate for 4 years. Had it been put at 5%
higher rate, it would have fetched ₹520 more. Find the sum.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. ₹2,600.
Difference in interest = ₹520,
Difference in rate = 5%
SI =
⇒ 520 =
⇒ = 26
⇒ P = ₹2600