A money lender finds that due to the fall in the annual rate of interest from 18% to 15%, his yearly income diminishes by Rs. 750. His capital is:
Rs .25,000
The correct answer is Rs .25,000.
The difference in simple interest is SI_1 - SI_2 = \frac{P \times R_1 \times T}{100} - \frac{P \times R_2 \times T}{100} = \frac{P \times T}{100} (R_1 - R_2). In our problem, T=1 year and the difference is Rs. So, 750 = \frac{P \times 1}{100} (18 - 15), which simplifies to 750 = \frac{P}{100} \times 3, leading to the same result P = 25000. This shows that the change in simple interest is directly related to the change in the interest rate when capital and time are fixed.
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