Discussion
A certain sum is invested at simple interest at 18% p.a. for two years instead of investing at 12% p.a. for the same time period. Therefore the interest received is more by Rs. 840. Find the sum?
Answer: A
\[ \text{SI} = \frac{P \times R \times T}{100} \]
The two schemes share the sum and the two years, so only the 6% gap in rate matters.
\[ \frac{P \times (18 - 12) \times 2}{100} = 840 \]
\[ 0.12P = 840 \quad\Longrightarrow\quad P = \text{Rs. } 7000 \]
Checking: Rs. 2520 at 18% against Rs. 1680 at 12% - a difference of exactly Rs. 840.
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