Question

A farmer borrowed Rs 7500 at 8% per annum. At the end of 2 year

6 month he cleared his account by paying 6300 and a radio. Find

the cost of the radio ?​

Answer 1

Step-by-step explanation:

Ans is 2700

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Answer 2

➤ Given :-

Principle :- ₹ 7500

Rate of interest :- 8%

Time :- 2 years 6 months $=$ 2.5 years

Amount paid with a radio :- ₹ 6300

➤ To Find :-

Cost of the radio..........

➤ Solution :-

First, we should find the simple interest by multiplying the principle, rate and time..........

Simple interest :-

${\tt \longrightarrow \dfrac{7500 \times 8 \times 2.5}{100}}$

${\tt \longrightarrow \dfrac{\cancel{7500} \times 8 \times 2.5}{ \cancel{100}} = \boxed{ \tt 75 \times 8 \times 2.5}}$

${\tt \longrightarrow 75 \times 20 = \boxed{\tt Rs \: \: 1500}}$

Now, we should find the total amount..........

Total amount :-

$\tt \longrightarrow 7500 + 1500$

${\tt \longrightarrow \tt Rs \: \: 9000}$

Now,

Cost of the radio :-

${\tt \longrightarrow \tt 9000 - 6300}$

${\tt \longrightarrow rs \: \: 2700}$

$\Huge\therefore$ The cost of the radio is ₹ 2700.

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$\dashrightarrow$ Some related formulas :-

Simple Interest :- ${\boxed{\tt\dfrac{P \times R \times T}{100}}}$

Principle :- ${\boxed{\tt\dfrac{SI \times 100}{R \times T}}}$

Rate of interest :- ${\boxed{\tt\dfrac{SI \times 100}{P \times T}}}$

Time :- ${\boxed{\tt\dfrac{SI \times 100}{P \times R}}}$

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More to know..................

• Simple Interest is the extra amount to be given when a person borrows some money from a person or a bank. The person who gives money is called lender. The person who takes money is called borrower.
• Principal is the amount given at first from lender to borrower.
• Rate of interest is the extra amount to be given from borrower to lender. It is always written in percentage format.
• Time is given for the borrower to return back the given money with the given interest.