A sum was put at simple interest at a certain rate for 3 years. Had it been…

Step-by-Step Solution

To find the sum, we can focus on the difference in interest earned.

1. Define the variables:

   • Let P be the principal sum.

   • Let R be the original rate of interest.

   • Time (T) = 3 years.

   • The new rate is (R + 2)%.

2. Use the Simple Interest formula:

   • The formula for Simple Interest (SI) is SI = (P * R * T) / 100.

   • The increase in interest is the difference between interest at the new rate and the original rate: ((P * (R + 2) * 3) / 100) - ((P * R * 3) / 100) = 360

3. Simplify the equation:

   • (3 * P * (R + 2 - R)) / 100 = 360

   • (3 * P * 2) / 100 = 360

   • (6 * P) / 100 = 360

   • 6 * P = 36000

   • P = 6000