A person who pays income tax at the rate of 4 paise per rupee, find that fall of

Question

A person who pays income tax at the rate of 4 paise per rupee, find that fall of interest rate (income tax) from 4% to 3.75% diminishes his net yearly income by Rs. 48. What is his capital ?

Options:

A . Rs. 24000

B . Rs. 25000

C . Rs. 20000

D . Rs. 18000

Answer: Option C

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