A sum of money was invested at a certain rate for 2 years . Had it been invested at 3% higher rate of interest , it would have fetched Rs.450 more . The sum invested was.
A. 7500
B. 600
C. 5000
D. 4500
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Let Sum P was invested for time 2 years.
First Rate = R
Second rate = R +3
Difference = 450
[PT(R +3) - PTR]/100 = 450
PTR + 3PT - PTR = 450 *100
PT = 15000
P *2 = 15000
P = 7500.
Sum = Rs. 7500.