6.Maha borrowed Rs 70000 at 3% per annum and Rs 80000 at 5% per annum. He cleared his debt after 4 years by giving Rs 98000 and a car What is the cost of the car?
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Answer:
P1=70000,R1=3%,T=4 years
I1=PRT/100
I1=70000×3×4/100
I1=8400 Rs
For case 2:-
P2=80000,R2=5%,T=4years
I2=PRT/100
I2=80000×5×4/100
I2=16000Rs
Total interest=8400+16000
=24400Rs
Total principal=70000+80000
=150000
Total amount=I+P
=24400+150000
=174400Rs
Total amount given by Maha=98000+car
174400=98000+car
car=174400-98000
car=76400
The cost of car=76400
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