Question
The rate of simple interest per annum of bank being decreased from 5% to 3$1/2$%, the annual income of a person from interest was less by Rs. 105. The sum deposited at the bank was
Answer: Option C
Answer: (c)Using Rule 1,Amount deposited in bank = Rs.x (let)Difference of rates= 5 - $7/2 = 3/2%$ per annumS.I. = ${\text"Principal × Time × Rate"/100$${x × 1 × 3}/{100 × 2}$ = 105$x = {105 × 200}/3$ = Rs.7000
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Answer: (c)Using Rule 1,Amount deposited in bank = Rs.x (let)Difference of rates= 5 - $7/2 = 3/2%$ per annumS.I. = ${\text"Principal × Time × Rate"/100$${x × 1 × 3}/{100 × 2}$ = 105$x = {105 × 200}/3$ = Rs.7000
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