A farmer borrowed rupees 20000 at 14 per in from a money lender at the end of 212 by one half year he cleared the amount by paying 15000 and a cow find the cost of the cow Hind amount is equal rupees 15000 plus cost of cow
Answers
Step-by-step explanation:
Given that the farmer borrowed Rs. 15000 from a money lender at 13%
per annum simple interest for 3 years.
Therefore, the principal amount is Rs. 15000.
Rate is 13%
Time is 3 years.
The formula for determining simple interest is
Simple Interest =P×R×T100
Putting the values of principle, rate and time in the equation. We get
⇒S.I.=15000×13×3100
On simplification we get,
⇒S.I.=5850
Total Amount = Principal amount + Simple interest
Putting these values of principal amount and simple interest here, we get the total amount to be paid by the farmer.
⇒
Total amount =15000+5850
On simplification we get,
⇒
Total amount =20850
The total amount for farmers to pay is Rs. 20850.
The farmer pays Rs. 8000 cash and a motorcycle
⇒
8000+ Motorcycle =20850
Hence, the value of motorcycle is
⇒
Motorcycle =20850-8000
On simplification we get,
⇒
Motorcycle =12850
Therefore, the value of motorcycle is Rs. 12,850.
Note: The simple interest is calculated by using the formula
Simple Interest =P×R×T100
Where, P is the principle amount.
R is the rate of interest.
And T is the time period.