Answer :

Let’s assume Amal babu ‘s Principal was ‘p’


When the rate of simple interest was 4%


P = ‘P’, r = 4, t = 1 and I = ?


Since,




When the rate of simple rate is %


Using




According to question,


Annual income of Amal babu decreases by Rs. 60




P = Rs. 24000


Hence, Amal babu Principal was Rs. 24000


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