Question

A farmer borrowed ₹ 6,500 at 8% interest per annum . at the end of 219 days , he cleared his account by paying ₹4,900 and a watch . find the cost of the watch​

Answer 1

Answer:

Principal(P)=6500

Rate(R)=8%

Time(T)=5year

SI=6500×8×5/100

=2600

Amount=SI+P

-6500+2600

= 9100

Let value of two gold coin be x

So 8000+x=9100

x=9100-8000

x=1100rupee

Value of two gold coin=1100

Value of one gold coin-1100/2=550rupee