[Rs. 5000] A sum was put at simple interest at a certain rate for 2 years. Had it been put at 4% higher rate, i

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A sum was put at simple interest at a certain rate for 2 years. Had it been put at 4% higher rate, it would have fetched Rs. 400 more. Find the sum.

Rs. 5000

Rs. 3500

Rs. 4500

Rs. 5500

Explanation:

For two years we got Rs.400 more so for 1 year, we must get Rs.200 extra. Assume we invested Rs.100 in bank.
If bank gives us 4% higher rate it gives Rs.4 extra.
To get Rs.200 extra we need to invest 200/4 = 50 times of Rs.100. i.e., Rs.5000

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