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If the rate increases by 2%, the simple interest received on a sum of money increases by Rs. 108. If the time period is increased by 2 years, the simple interest on the same sum increases by Rs.180. The sum is ?

Correct Answer: Data is not sufficient

Explanation:

Let the sum be Rs. p, rate be R% p.a. and time be T years.


Then,


  P × T × ( R + 2 ) 100 - P × T × R 100 = 108     2 P T =   10800     . . . . . .   ( 1 )


 And, 


  P × R × ( T + 2 ) 100 - P × R × T 100 = 180       2 P R   =   18000   . . . . . . ( 2 )


Clearly, from (1) and (2), we cannot find the value of p
So, the data is not sufficient.


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