2018 · Q35
The annual income of a person decreases by Rs. 64 if the annual rate of interest decreases from 4% to 3.75%. What is his original annual income?
Elementary MathematicsSimple and Compound Interest
- ARs. 24,000
- BRs. 25,000
- CRs. 25,600
- DRs. 24,600
Explanation
The income drop of Rs. 64 corresponds to the 0.25% rate difference on the principal: P × 0.0025 = 64, so P = Rs. 25,600, option (C).