Question

8. A farmer borrowed * 15000 from a money lender at 13%. per annum simple interest At the end of 3 years he settled the account after paying * 8000 cash and a mer cycle. Find the value of the motor cycle.​

Answer 1

Answer:

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Answer 2

Given : Rs. 15000 borrowed at 13 % per annum interest ( S.I )

After 3 years, amount paid as Rs.8000 cash and motor cycle

To find : value of motor cycle.

Solution :

After 3 years ,

Amount = P ( 1+ Rate × term / 100 )

= 15000 ( 1 + 13 × 3 / 100 ) = 20850

Since, only 8000 rupees paid as cash

= value of motor cycle = 20850 - 8000 = 12850

Hence, value of motor cycle = 12850

Final answer :- 12850