Question

2. Manisha took a loan of * 16,000 from Kamini,
who charged rate of interest at 18% per annum.
After 2 years Manisha paid her rs. 20,800 and a
wrist watch to clear the account. What is the
value of wrist watch?​

Answer 1

Answer:

value of wrist watch= 960

Step-by-step explanation:

Considering it to be simple interest and loan was taken at beginning of year

two year interest=16000x18%x2years=5760

total to be paid after 2 years=16000+5760=21760

wrist watch value= to be paid amount - cash payment

= 21760--20800= 960