Q.Due to a decrease in the annual simple interest rate from 4% to 3\(\cfrac{3}{4}\)%, Mr. Amal's annual income is reduced by ₹60. Find Mr. Amal's principal.

Let Mr. Amal's principal be \(x\) rupees. The interest rate decreases by (4% − \(3\frac{3}{4}\)%) = \(\cfrac{1}{4}\)% \(\therefore\) According to the question, \(\cfrac{x \times 1 \times \cfrac{1}{4}}{100} = 60\) i.e., \(x = 60 \times 100 \times 4 = 24000\) \(\therefore\) Mr. Amal's principal is ₹24,000.
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