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1. If the annual interest rate decreases from 4% to 3.75%, income of a person reduces by Tk. 60. What is his principal?
- A. Tk. 22,000
- B. Tk. 22,000
- C. Tk. 22,000
- D. Tk. 22,000
Answer: Option C
Explanation:
given, the annual interest rate decreases from 4% to 3.75%
ATQ,
(4 - 3.75)% = 60
or, 0.25% = 60
or, 100% = (60/0.25) * 100 = 24000
so, principal = 24000 tk
ans: 24000 tk
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