Question

A sum was put at 51 at a certain rate for 4 years. Had it been put at 2% higher rate, it would have fetched Rs. 56 more. Find the sum.

• A. Rs. 500
• B. Rs. 600
• C. Rs.700
• D. Rs. 800

Answer 1

The correct option is C Rs.700

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

$\frac{4P\times 2}{100}=56$

$P=Rs.700$