Question

A farmer borrowed Rs.2400 @12% interest per annum. At the end of 2and1/2 years, he cleared his account by paying Rs.1200 and a cow. What is the cost of the cow?

Answer 1

Hi ,

Principal = P = Rs 2400

Rate of interest ( I ) = 12%

Time = T = 2 1/2 years = 5 /2 years

Amount = A

We know that ,

A = P ( 1 + TR /100 )

= 2400[ 1 + (5 × 12)/(2 × 100 )]

= 2400 × [ ( 100 + 60 ) /200 ]

= 2400 × 160 /200

A = RS 3120

According to the problem given ,

1200 + cost of cow = A


Cost of the cow = 3120 - 1200

= Rs 1920

I hope this helps .

:)

Answer 2

Principal,  P = Rs. 2400

Rate of interest, I = 12%

Time, T = $2 \frac{1}{2}$ years
             = 5/2 years

Amount, A  = P ( 1 + TR /100 )

= 2400 x [1 + (5 × 12)/(2 × 100)]

= 2400 × [ ( 100 + 60 )/200 ]

= 2400 × 160 /200

= RS 3120

ATQ, 

1200 + cost of cow = A


Cost of the cow = A - 1200

                         = 3120 -1200
                         
                         = Rs 1920

hope it helps

@ankit1234
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