A money lender finds that due to a fall in the annual rate of interest from 8%

Question

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

Options:

A . Rs. 22,400

B . Rs. 23,800

C . Rs. 24,600

D . Rs. 26,000

Answer: Option C

Let the capital be Rs. x. Then,(x * 8 * 1)/100 - (x * 31/4 * 1/100) = 61.5032x - 31x = 6150 * 4x = 24,600.

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