Arithmetic Ability
Simple Interest

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Q.

If the rate increases by 2%, the simple interest received on a sum of money increases by Rs. 108. If the time period is increased by 2 years, the simple interest on the same sum increases by Rs.180. The sum is ?

View Answer

Correct choice: D

Explanation:

Let the sum be Rs. p, rate be R% p.a. and time be T years. Then, (P×T×(R+2)/100)−(P×T×R/100)=108 ⇒2PT= 10800 ...... (1) And, (P×R×(T+2)/100)−(P×R×T/100)=180 ⇒2PR = 18000 ......(2) Clearly, from (1) and (2), we cannot find the value of p So, the data is not sufficient.
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