Question

A borrower took Rs 16,000 from a finance firm at 12 % p.a. for 2
years, After 2 years he repaid the firm Rs 18,000 and some
jewellery. Find the price of the jewellery..

Answer 1

Solution :-

→ Sum borrowed = Rs.16,000

→ Rate of interest = 12% PA

→ Time = 2 Years.

→ Interest given after 2 years = (P * R * T)/100

→ Interest = (16000 * 12 * 2)/100

→ interest = Rs.3840 .

So,

→ Total Amount to be paid after 2 years = Sum borrowed + interest

→ Amount = 16000 + 3840

→ Amount = Rs.19,840 .

Now, it is given that, After 2 years he repaid the firm Rs 18,000 and some jewellery.

Therefore,

→ Price of jewellery = Amount to be Paid - Amount Paid.

→ Price of jewellery = 19840 - 18000

→ Price of jewellery = Rs.1,840 (Ans.)

Answer 2

The answer is 1840 rupee.