If the annual interest rate decreases from 4% to 3.75%, income of a person reduces by Tk. 60. What is his principal?

If the annual interest rate decreases from 4% to 3.75%, income of a person reduces by Tk. 60. What is his principal? Correct Answer Tk. 24,000

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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