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A sum was invested for 4 yr at a certain rate of simple interest. If it had been invested at 2% more annual rate of interest, then RS. 56 more would have been obtained. What is the sum?

A) RS.680
B) RS.700
C) RS.720
D) RS.820

Correct Answer:


B) RS.700

Description for Correct answer:
According to the question,

\( \Large \frac{P\times (R+2)\times 4}{100} \)-\( \Large \frac{P\times R\times 4}{100} \)=56

=> \( \Large \frac{4PR+8P-4PR}{100} \)=56

=> \( \Large \frac{8P}{100} \)=56

P=\( \Large \frac{56\times 100}{8} \)=RS.700

Part of solved Simple and compound interest questions and answers : >> Aptitude >> Simple and compound interest

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