If annual rate of simple interest increases from 10% to 5%, a man's yearly income decreases by Rs.4000.His principal in(Rs)
Question
If annual rate of simple interest increases from 10% to 5%, a man's yearly income decreases by Rs.4000. His principal in (Rs)
Solution
The problem is about simple interest which is calculated using the formula:
Interest = Principal * Rate * Time
In this case, the time is 1 year and the rate of interest changes from 10% to 5%. The difference in interest is given as Rs. 4000. We can set up the equation as follows:
Principal * 10%
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