a farmer borrowed ₹20000 from a money bank at 8% per annum simple interest. At the end of the 2 years, he settled the account after paying ₹ 18000 cash and a motor cycle. Find the value of the motor cycle.
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Answer:
P=20000
R=8%
Time =2yrs
S. I=P*R*T/100
20000*8*2/100
2400
AMOUNT
SI - P
2400-20000
18600
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