Beema
Beema
3 months ago

Rate of simple interest per annum of bank bening decreased from 5% to 3 and1/2%, the annual income of a person from interest was less by Rs105. The sum deposited at the bank was

A. Rs 7000

B. Rs6000

C. Rs 7200

D. Rs6800


Join The Discussion

Comments ( 1 )

  1. Kumar Chandan
    Kumar Chandan :
    3 months ago

    Let sum was X.
    Amount after 1 year with interest 5%,
    Amount = x + 5% of x = 1.05x.
    Amount after 1 year with interest 7/2%.
    Amount = x + 7/2% of x = 1.035x.
    Difference in interest = 105
    1.05x - 1.035x = 105
    0.015x = 105
    x = Rs. 7000.

Related User Ask Questions