Question

Due to fall in the rate of interest from 12% to 10½% p.a money lender’s yearly income diminished by ` 90 the capital _____​

Answer 1

Answer:

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Step-by-step explanation:

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/-

Hope this will help you!