Question

a money lenders income decreased by 60rs when the rate of. interest droped from 8% to 31/4% pa What was his principal​

Answer 1

Answer:

P = Rs 24000

Step-by-step explanation:

Let P be the principal moneylender had.

Initial income is given by -

Initial income = P × (100+r)/100

Initial income = P × (100+8)/100

Initial income = P × 108/100 ...(1)

Final income is given by -

Final income = P × (100+r)/100

Final income = P × (100+7.75)/100

Final income = P × 107.75/100 ...(2)

Difference between two incomes is -

Initial income - Final income = P × 108/100 - P × 107.75/100

60 = P (108-107.75)/100

60 × 100 = P × 0.25

P = 6000 / 0.25

P = Rs 24000

Hence, the principal is Rs. 24000.

Thanks dear. Hope this helps you...