When the simple interest rate on a deposit falls from 9% to 7.5% per annum, the depositor’s yearly income falls by Rs. 180. What is the deposit?
Correct answer B. Rs. 12,000
Explanation
Fall in income = P × 1.5 / 100 = 180, so P = 180 × 100 / 1.5 = Rs. 12,000.
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