A person who pays income tax at the rate of 4 paise per rupee, find that a fall of interest rate from 4% to 3.75% diminishes his net yearly income by 48. What is his capital ?

A person who pays income tax at the rate of 4 paise per rupee, find th

1.	A person who pays income tax at the rate of 4 paise per rupee, find that a fall of interest rate from 4% to 3.75% diminishes his net yearly income by 48. What is his capital ?
A.	24,000
B.	25,000
C.	20,000
D.	18,000
Answer» D. 18,000

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A person who pays income tax at the rate of 4 paise per rupee, find that a fall of interest rate from 4% to 3.75% diminishes his net yearly income by 48. What is his capital ?

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