Question

A farmer borrowed 6,500 at 8% interest per annum. At the end of 3 years, he
cleared his account by paying 6,700 and a watch. Find the cost of watch
​

Answer 1

Step-by-step explanation:

Principal. = 6500

Rate of interest = 8%

Time = 3years

Si =

$\frac{ptr}{100} \\ = \frac{6500 \times 8 \times 3}{100} \\ = 715$

Amount = p+si = 6500+715 = 7215

he repaid = 6700

cost of watch. = 7215 - 6700 = 515