Question

A farmer borrowed Rs.170000 at 12 per cent per annum from a money lender .After 6 years and 6 months ,he paid Rs.19000 and gave 2 of his goats .Find the cost of each goat.

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Answer 1

Answer:

given

P=170000Rs

R=12%p.a.

T=6.5years

so,I=(P×R×T)/100

=(170000×12×6.5)/100

=132600

now

A=P+I

=170000+132600

=302600

the amount he paid=19000

remaining amount to be paid =302600-19000

=283600

so, the cost of 2 goat=remaining amount tobepaid

=283600

thus,

the cost of each goat=283600/2

=141800Rs