A sum was invested at simple interest for 2 years. It would have fetched ₹ 60 more had it been invested at a 2% higher rate. What was the sum?

A sum was invested at simple interest for 2 years. It would have fetched ₹ 60 more had it been invested at a 2% higher rate. What was the sum?

• A. ₹ 1000
  
• B. ₹ 1300
  
• C. ₹ 2500
  
• D. ₹ 1500
  

 

The correct answer is option D. 1500. Can you explain this answer in the comments?

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