A Bought an item from a shopkeeper at rs .k and paid the amount to the shopkeeper in 3 equal annual installment .of Rs.6720 at 4%rate of simple interest .what is the value of K?
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Value of K = 18000
Step-by-step explanation:
A bought an item from a shopkeeper at rs.K
Simple interest at 4 % for 3 times
Simple interest = K * 4 * 3 /100 = 0.12K
Total Amount to be paid = K + 0.12K = 1.12K
Amount paid = 3 * 6720
Equating both
1.12K = 3 * 6720
=> K = 20160/1.12
=> K = 18000
Value of K = 18000
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