Simple Interest: Find the Capital Amount Invested by a Money Lender
A money lender finds that due to a fall in the rate of interest from 13% to 12.5% and his yearly income diminishes by Rs. 104. So, How much is his capital amount?
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Let the Capital Invested be X.
As per the given statement we can form an equation as shown below:
13% of X - 12.5% of X = Rs. 104
Solving this, we get X = Rs. 20,800 (this will be the Capital Amount and our answer)
As per the given statement we can form an equation as shown below:
13% of X - 12.5% of X = Rs. 104
Solving this, we get X = Rs. 20,800 (this will be the Capital Amount and our answer)
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