A certain sum (in ₹)is invested at simple interest at y% per annum for at $3\frac{1}{2}$ years. Had it been invested at (y + 4) % per annum at simple interest, it would have fetched ₹4,452 more as interest. What is the sum?
Answer & explanation
Correct answer: option 2
Difference of Rate of 1 year = 4%
Difference of Rate of \(\frac{7}{2}\) years = 4% × \(\frac{7}{2}\) = 14 %
⇒ 14% = Rs 4452
⇒ 100%= Rs 4452 × \(\frac{100}{14}\) = Rs. 31800