A money lender finds that due to a fall in the annual rate of interest from 8% to 7-%, his yearly incom diminishes by ? 61.50. His capital is (1) 22400 (2) 23800 (3) 3 24600 (4) 3 26000

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A: topic - compound interest

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Q: 2. Find the interest rate where difference between the compound interest and simple interest on a…

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Q: A man deposited P5,000 on the date his son celebrated his 1st birthday. If money is worth 10%…

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A: Amount = $7000 Time = 18 months = 1.5 year Rate = 4% = 0.04 Interest = Amount × Time × Rate

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