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