A farmer borrowed 5,300 at 8% interest per annum. At the end of2,1/2
he cleared his account by paying 4,600 and a watch. Find the cost of watch.
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Answer:
Interest at the end of 2,1/2=
5300×(8/100)×(2,1/2)=
53×8×5/2
=53×4×5
=1060
So total amount he has to pay = 5300+1060
=6360
He pays 4600 + a watch
So the cost of watch, = 6360 - 4600 = 1760 Ans
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