A sum was deposited at a certain rate of simple interest for 4 years. If it had been a 5% higher rate of interest, then it would have amounted to ₹5,200 more. The sum deposited is:
A.₹13,000
B.₹10,400
C.₹26,000✓ Correct
D.₹25,000
Explanation
Extra interest = P × 5% × 4 = 5200, so P × 0.20 = 5200, giving P = ₹26,000.
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