For 2 years, a sum was put at SI at a certain rate. If the rate was 3% higher, it would have fetched Rs. 300 more. What will be the sum ?

A. Rs. 5000

B. Rs. 4800

C. Rs. 2500

D. Rs. 4484

Answer: Option A

Solution(By Examveda Team)

$$\eqalign{ & {\text{Let principal is P}} \cr & {\text{then,}} \cr & {\text{300 = }}\frac{{{\text{P}} \times 3 \times 2}}{{100}} \cr & {\text{P = 5000}} \cr} $$