A sum was invested on simple interest at a certain rate for 2 years. Had it been put at 3% higher rate, it would have fetched 72 more. The sum is
Question
Solution 1
The problem is asking for the original sum of money that was invested. We know that the difference in interest from the original rate and the rate that is 3% higher over 2 years is $72.
The formula for simple interest is I = PRT, where I is interest, P is the principal (the original sum of money), Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv
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