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ICSE Class 8 Answered

A moneylender's income decreased by rs60 when the rate of interest dropped from 8% p.a. to 31/4% p.a..what was his principal?
Asked by abhishekgarg81187 | 12 Aug, 2018, 08:42: PM
Expert Answer
begin mathsize 16px style let space principle space equals space rs. space straight P Suppose space time comma space straight t space equals space 1 space year Ler space straight r subscript 1 space equals space 8 percent sign space straight p. straight a. space and space straight r subscript 2 space equals space 31 over 4 percent sign straight p. straight a. straight I space equals space fraction numerator straight P thin space cross times space straight r subscript 1 space cross times space straight t space over denominator 100 end fraction space and space space straight I space equals space fraction numerator straight P thin space cross times space straight r subscript 2 space cross times space straight t space over denominator 100 end fraction rightwards double arrow straight I space equals space fraction numerator straight P thin space cross times 8 space over denominator 100 end fraction space and space space straight I space equals space fraction numerator straight P thin space cross times 31 space over denominator 400 end fraction According space to space the space question comma fraction numerator 8 straight P over denominator 100 end fraction minus fraction numerator 31 straight P over denominator 400 end fraction equals space 60 rightwards double arrow straight P over 100 open parentheses 8 space minus 31 over 4 close parentheses space equals space 60 rightwards double arrow straight P over 100 space cross times space 1 fourth space equals space 60 rightwards double arrow straight P space equals space 60 space cross times space 400 space equals space Rs. space 24000 end style
Answered by Yasmeen Khan | 13 Aug, 2018, 11:03: AM

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