Question

6. A farmer borrowed 3600 at 15% interest per annum. At the end of 4 years he cleared his
account paying 4000 and a cow. Find the cost of the cow.
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Answer 1

Answer:

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Step-by-step explanation:

Borrowed rupees = 3600

Rate % = 15 %

Time = 4 years

Formula - :

Simple interest = price × rate × time ÷ 100

Simple interest = 3600 × 15 × 4 ÷ 100

Simple interest = 2160

Total ammount with intrest = 3600 + 2160

Total ammount with intrest = 5760

Farmer pay 4000 rupees with cow and clear his record.

Cow price = 5760 - 4000

Cow price = 1760

Your answer is 1760.

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