Question

5. Ravi borrowed 72000 at 2% per annum and * 1000 at 5% per annum. He cleared
his debt after 2 years by giving 2800 and a watch. What is the cost of the
watch?​

Answer 1

Answer: 73,180

HOPE YOU GET YOUR ANSWER

Answer 2

Answer:

Cost of the Watch = 73180

Step-by-step explanation:

Ravi borrowed 72000 at 2% per annum

After 2 years, his debt from this borrowing = 72000 x [1 + $\frac{2}{100}$ x 2]

= 72000 + 72000 x $\frac{4}{100}$ = 72000 + 2880 = 74880

Ravi also borrowed 1000 at 5% per annum

After 2 years, his debt from this borrowing = 1000 x [1 + $\frac{5}{100}$ x 2]

=1000 + 100 = 1100

Ravi's total Debt after two years = 74880 + 1100 = 75980

He cleared his debt by giving 2800 and a watch.

Cost of the Watch = 75980 - 2800 = 73180