A man buys a land for it 20 times the annual rate interest he gets for his money, what is the rate of interest?

Question

A sum was invested for 3 years at simple interest at a certain rate, had it been invested at 4% higher rate of interest, it would have fetched Rs 600 more. What was the sum invested?

Answer 1

Let's assume
SI = K
P = 20K
T = 1
R = ?

SI = P . R . T /100
R = P . T / SI . 100
R = 20K.1/K.100

or
R = 5%