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    Question

    The amount becomes ₹ 1,475.25 in one year on a simple

    rate of interest. If the rate of interest was 2% higher, the amount would have been ₹ 27 more. What is the amount invested?
    A ₹ 1,275 Correct Answer Incorrect Answer
    B ₹ 1,350 Correct Answer Incorrect Answer
    C ₹ 1,380 Correct Answer Incorrect Answer
    D ₹ 1,200 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Let invested amount =100 Rs. The interest rate is increasing by 2%, hence the amount has increased by Rs 27. So, I can say - 2=27 1=13.5 100=100×13.5=1350 Rs

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