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A certain sum is invested at simple interest at 18% p.a. for two years instead of investing at 12% p.a. for the same time period. Therefore the interest received is more by Rs. 840. Find the sum? |
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Answer» Rs. 7000 Let the SUM be Rs. x. (x * 18 * 2)/100 - (x * 12 * 2)/100 = 840 => 36x/100 - 24x/100 =840 => 12x/100 = 840 => x = 7000. |
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