JAIIB Question - A moneylender finds that due to a fail in the rate of interest

A money-lender finds that due to a fail in the rate of interest from 13% to 12.5%, His yearly income from interest falls by Rs. 208. His principal amount is ____

Solution:

Let the principal amount be Rs X. then, (X \times 13 \times 1)/100 - (X \times 12.5 \times 1)/100=208 X= 208/0.5%= 208*2 *100 X= 41600


Download the JAIIB FREE APP with detailed solution and answers.