A farmer borrowed ₹5300 at 8% he cleared his account by paying ₹4600 and a watch . Find the cost of watch
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A farmer borrowed Rs 5300 at 8
MATHS
MEDIUM
A farmer borrowed Rs 5300 at 8% interest per annum. At the end of 2
2
1
he cleared his account by paying rs 4600 and a watch. Find the cost of watch.
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ANSWER
Given principle(P)=Rs. 5300
Interest rate(r)=8%
Time=2
2
1
=
2
5
Total amount=P(1+
100
nr
)=5300
⎝
⎜
⎜
⎛
1+
100
2
5
×8
⎠
⎟
⎟
⎞
=5300(1.2)=Rs. 6360
Total amount= Paid amount+Watch price
6360=4600+watch
⇒ Watch=Rs. 1760.
hope it helps you
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