A moneylender finds that due to a fall in the annual rate of interest from $8 \%$ to $7 \frac{3}{4} \%$, his yearly income diminishes by ₹ 61.50 . His capital is
(a)₹ 22,400
(b)₹ 23,800
(c)₹ 24,600
(d)₹ 26,000
Answer
Answer (as printed): C
Explanation
Let the capital be ₹ $x$. Then, $\left(\frac{x \times 8 \times 1}{100}\right)-\left(x \times \frac{31}{4} \times \frac{1}{100}\right)=61.50$ $$\Leftrightarrow \quad 32 x-31 x=6150 \times 4 \Leftrightarrow x=24600 \text {. }$$
Explanation as extracted from the printed page; notation may be imperfect.