Question

a farmer borrowed rs 15000 from a money lender at 13% per annum simple interest. at the end of 3 yrs he settled the account after paying rs 8000 cash and motor cycle. find the value of the motor cycle

Answer 1

principal=rs15000
rate=13%..
time=3years..
SI=prt/100
=15000×3×13/100=5850
amount =p+SI
15000+5850=20850
so he had to pay total rs 20850.
but he pay Rs 8000
and a motor cycle
therefore cost of motorcycle =20850-8000=RS12850....

Answer 2

i=15000×13×3
-------------------= 5850
100
amount=15000+5850=20850
20850-8000=Rs .12850.
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