Question

a money lender finds that due to a fall in the rate of interest from 8 % to 7mutiplied 3 by 4 percentage his yearly income dimenshed by rupees 615 then his capital is​

Answer 1

Answer:

Let Capital invested is X

X(8%-7.75%)= 61.50

X = 61.50/.0025= Rs. 24,600/-

Income when interest rate is 8%

24600* 8%= 1968

Interest when interest reduced to 7.75%

24600 * 7.75% = 1906.5

Difference Amount Rs. 61.5

Therefore Capital Amount is Rs. 24,600/-