A farmer borrowed 18000 from a moneylender at a simple interest of 15% per annum. At the end of 3 year 6 months, he settled the loan playing ₹15000 cash and a motorbike. Find the value of the motorbike.
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S.I for 3years and 6 months is RS.3050
So total Amount is 18000+3050=Rs.21050
Cost of motorbike=Rs.21050-Rs.15000
Cost of motorbike=Rs.6050
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