Question

A money lender finds that due to a fall in the annual rate of interest from $8\%$ to $7\frac{3}{4}\%$, his yearly income diminishes by Rs. $61.50$. His capital is

• A. Rs. $22400$
• B. Rs. $23800$
• C. Rs. $24600$
• D. Rs. $26000$

Answer 1

The correct option is C Rs. $24600$

Let the capital be Rs. $x$

Then, $\frac{x\times 8\times 1}{100}-\frac{x\times 31\times 1}{4\times 100}=61.50$
$\Rightarrow \frac{8x}{100}-\frac{31x}{400}=61.50$
$\Rightarrow \frac{32x-31x}{400}=61.50$
$\Rightarrow x=61.5\times 400=$ Rs. $24600$