Question

A farmer borrowed Rs.60,000 at 15% interest per annum from a moneylender. At the end of 2years, he cleared his account by paying Rs.40,000 and a cow. Find the cost of the cow.

Answer 1

Cost of the cow is 48000.

• A farmer borrowed Rs. 60,000 at 15% interest per annum from moneylender.
• Interest is calculated by ,

Interest = p×n×r÷100, where p is principal amount, n is number of years and r is rate of interest.

• At the end of 2 years , he paid Rs. 40000 and a cow. We have to calculate the price of the cow.
• We calculate the interest in two years with principal amount Rs. 60000 and rate is 15% =

Interest = 60000×2×15÷100 = 18000 Rs.

• So the total amount to be paid is principal amount + interest

Total amount = principal amount + interest = 60000 + 18000 = 78000 Rs.

• Now he paid rupees Rs. 40000 and a cow.
• Therefore, 40000 + cost of cow = total amount to be paid

40000 + cost of cow = 78000

cost of cow = 78000 - 40000 = 38000 Rs.

Answer 2

The cost of the cow is Rs. 38000.

Step-by-step explanation:

Given:

A farmer borrowed Rs.60,000 at 15% interest per annum from a moneylender. At the end of 2years, he cleared his account by paying Rs.40,000 and a cow. Find the cost of the cow.

Solution:  

Principal = 60000, r = 15%, t = 2 years

S= $\frac{P \times r \times t}{100} = \frac{60000 \times 15 \times 2}{100}$= 18000

Amount = 60000 + 18000 = 78000

Cost of cow = 78000 – 40000 = 38000  Rs.

To know more:

A farmer borrowed Rs.3600 at 15% interest per annum. At the end of 4 yrs he cleared his account by paying Rs. 4000 and a cow . Find the cost of the cow

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