Simple Interest Practice Test 3

Question : 35 of 40

Marks: +1, -0

A man loses Rs 55.50 yearly when the annual rate of interest falls from 11.5% to 10%. His capital (in rupees) is:

Solution:

Let the capital = P

R ⇒ R_1 = 11.5% ,R_2 = 10%

Time = 1 year

P({R_1×1}/100-{R_2×1}/100)=55.50

P(11.5/100-10/100)=55.50

P=55.50×100/1.5=3700

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