A sum was invested on simple interest at a certain rate for 3 years. Had it been invested at 2% higher rate, it would have fetched ₹360 more interest. The value of the invested sum is:

Question

Accepted Answer

Let the sum be $$ P $$.

### Step 1: Formula for Simple Interest  
The additional interest earned due to a 2% higher rate for 3 years is given as ₹360. Using the formula for simple interest:  
$$
	ext{Additional Interest} = \frac{P 	imes 	ext{Rate} 	imes 	ext{Time}}{100}
$$  
Substitute the values:  
$$
360 = \frac{P 	imes 2 	imes 3}{100}
$$

### Step 2: Solve for $$ P $$  
Simplify the equation:  
$$
360 = \frac{6P}{100}
$$  
$$
P = \frac{360 	imes 100}{6} = 6000
$$

### Final Answer:  
The value of the invested sum is **₹6000**, corresponding to option **(c)**.

Answer

Answer

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