A man invests some amount of money for some time period. This amount of money becomes ₹4500 at the rate of 7% simple interest. However, if invested at 5% per annum simple interest, the same amount becomes ₹3500. Find out the amount of money and the time period.
1
₹1000, 50 years.
2
₹2000, 50 years.
3
₹1000, 30 years.
4
₹2000, 30 years.