Paper 1 · Mathematical Reasoning and Aptitude
UGC NET December 2021 June 2022 (11.07.2022) Shift-II
A person deposited some money at a simple interest rate for 3 years. Had he deposited the money at a 2 percent higher rate, it would have fetched Rs. 360 more. Find the amount of money deposited.
A5000
B4600
C6000 ✓ Correct
D6100
Correct answer: (C) 6000 — The deposited amount is Rs. 6000.
Explanation
★The deposited amount is Rs. 6000.
★In simple interest, extra interest equals principal times extra rate times time over 100.
★The extra rate is 2 percent and the time is 3 years.
★So the extra interest is principal times 2 times 3 divided by 100, which is 0.06 times principal.
★Setting 0.06 times principal equal to 360 gives a principal of 6000.
★The original rate is not needed because the extra interest depends only on the rate difference.
★This shortcut avoids solving for the unknown base rate entirely.
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