A borrowed rupees 2500 from B at 12% per annum compound interest. After 2 years A gave rupees 2936 and a watch to B to clear the amount. find the cost of the watch ( explain with step by step)
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Step-by-step explanation:
Correct option is
A
200
We know, for compound interest A=P{1+100R}T
Here P=2500,R=12,T=2
A=2500{1+10012}2
A=2500{100112}{100112}=3136
As per the question,
A paid Rs. 2936 and watch for settlement.
Therefore cost of watch =3136−2936= Rs. 200
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