RRB NTPC · Question 2
A sum of money was invested for 2 years at a fixed interest rate. Had that money been invested at a 5% higher rate of interest, it would have gained Rs. 200 more. Find the amount? A. Rs. 3000 B. Rs. 2600 C. Rs. 5000 D. Rs. 2000
Show answer & explanation
Answer: (D) D
Explanation
A 5% higher rate for 2 years earns an extra P × 5 × 2/100 = 0.1P. 0.1P = 200, so P = Rs 2,000.