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    The interest earned when INR ‘P’ is invested for four years in a scheme offering 9% p.a. simple interest is more than the interest earned when the same sum (INRP) is invested for two years in another scheme offering 12% p.a. simple interest, by INR 360/-, What is the value of P

  • INR 2000/-
  • INR 3500/-
  • INR 2500/-
  • INR 4000/-
  • INR 3000/-
  • Explanation:

    According to question,

    P×9×4/100-P×12×2/100=360

    12P=36000

    P=INR3000/-