The rate of simple interest per annum of bank being decreased from 5% to 3\frac{1}{2} %, the annual income of a person from interest was less by ₹105. The sum deposited at the bank was [](https://www.google.co.in/imgres?imgurl=https://www.leftovercurrency.com/wp- content/uploads/2017/03/500-indian-rupees-banknote-gandhi-red-fort- obverse-1.jpg&imgrefurl=https://www.leftovercurrency.com/exchange/indian- rupees/current-indian-rupee-banknotes/500-indian-rupees-banknote-gandhi-red- fort/&h=435&w=1000&tbnid=JASIfsYvA3BoJM:&q=indian+rupee+symbol&tbnh=85&tbnw=197&usg=__RuLy6_c3zXed2TI1vjtoLVVX56Q%3D&vet=1&docid=J4CGnueQQ2IE7M&itg=1&sa=X&ved=0ahUKEwj9mMy2ua3cAhUbfn0KHTUrB5cQ_B0IMDAB)

Question 147

The rate of simple interest per annum of bank being decreased from 5% to $$3\frac{1}{2}$$ %, the annual income of a person from interest was less by ₹105. The sum deposited at the bank was

Solution

Given, rate of interest decreases from 5% to 3$$\frac{3}{2}$$ and annual income of a person from interest was less by 105rs

Then the difference is given by,

5% - 3$$\frac{3}{2}$$% = 105 (or) $$\frac{(10 - 7)}{2}$$% = 105 (or) 1% = 70

$$\Rightarrow$$ 100% = 7000

Hence, option A is the correct answer.

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