Question

a farmer purchased a land for Rs.22000 and paid Rs.16000 the balance amount to be paid after 2years and 3 months at a rate of 12percentage per annum is Rs _______​

Answer 1

Solution

Cost price of the land is =22000 Rs

paid amount=16000 Rs

therefore the balance amount

=(22000-16000)Rs

=6000Rs

now this balance amount will work as principal amount and it would be paid in 2 years and 3 month at a rate of 12%per annum..

therefore

P=6000

time(t)=2 years 3 month

=[2+(3/12)] years

=( 2+1/4)years

=9/4 years

=2.25 years

now ...

therefore he will pay ....(considering Compound interest)

=6000(1+12/100)^2.25

=6000(112/100)2.25

=7742.69 Rs (approx)