A farmer borrowed 2400 at a
n interest of 12% per annum. At the end of 2
2
years,
he cleared his account by paying 1200 and a cow. Find the cost of the cow.
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Answer:
Hi,
Principal = P = Rs 2400 =
Rate of interest ( 1 ) = 12%
Time = T = 2 1/2 years = 5 /2 years
Amount = A
We know that,
A = P (1+ TR /100 )
= 2400[ 1+ (5 x 12)/(2 x 100 )] =
= 2400 x [( 100 + 60 ) /200]
2400 x 160 /200
A = RS 3120 =
According to the problem given ,
1200 + cost of cow = A
Cost of the cow = 3120 1200
= Rs 1920
I hope this helps .
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