Question

A farmer wants to take a loan of rupees 150000 for a period of 2 years. Bank A offers loan at 12% per annum whereas Bank be asked to pay RS 37500 as the interest. Which bank offer a good offer to the farmer?

Don't Spam..! ​

Answer 1

Given :

• A farmer wants to take a loan of Rs. 150000 for a period of 2 years. Bank A offers loan at 12% per annum whereas Bank be asked to pay Rs. 37500 as the interest.

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To Find :

• Which bank offered a good offer to the farmer .

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Solution :

~ Concept :

We will use the concept of Simple Interest here .We will calculate the rate for the Bank B as we have been already provided the rate for Bank A and on comparing them we will get which offered better offer .Let's Start :

$\qquad{━━━━━━━━━━━━━━━━━━}$

~ Formula Used :

$\large{\color{cyan}{\bigstar}} \: \: {\underline{\boxed{\red{\sf{ R = \dfrac{S.I \times 100}{P \times T}}}}}}$

Where :

• ➙ R = Rate
• ➙ S.I = Simple Interest
• ➙ P = Principle
• ➙ T = Time

$\qquad{━━━━━━━━━━━━━━━━━━}$

~ Calculating the Rate for Bank B :

${\dashrightarrow{\qquad{\sf{ Rate{\tiny_{(Bank \: B)}} = \dfrac{S.I \times 100}{P \times T}}}}} \\ \\ \ {\dashrightarrow{\qquad{\sf{ Rate{\tiny_{(Bank \: B)}} = \dfrac{37500 \times 100}{150000 \times 2}}}}} \\ \\ \ {\dashrightarrow{\qquad{\sf{ Rate{\tiny_{(Bank \: B)}} = \cancel\dfrac{3750000}{300000}}}}} \\ \\ \ {\qquad{\textsf{ Rate for Bank B = {\color{orange}{\rm{ 12.5 \: \% }}}}}}$

$\qquad{━━━━━━━━━━━━━━━━━━}$

~ Comparison :

$\qquad{\sf{12 < 12.5}}$

Bank A < Bank B

$\qquad{━━━━━━━━━━━━━━━━━━}$

Therefore :

❝ Bank A provided a better(i.e,Cheaper) offer to the farmer .❞

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Answer 2

Answer:

hey dear how are you ?

Step-by-step explanation:

Given :

A farmer wants to take a loan of Rs. 150000 for a period of 2 years. Bank A offers loan at 12% per annum whereas Bank be asked to pay Rs. 37500 as the interest.

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

To Find :

Which bank offered a good offer to the farmer .

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

Solution :

~ Concept :

We will use the concept of Simple Interest here .We will calculate the rate for the Bank B as we have been already provided the rate for Bank A and on comparing them we will get which offered better offer .Let's Start :

\qquad{━━━━━━━━━━━━━━━━━━}━━━━━━━━━━━━━━━━━━

~ Formula Used :

\large{\color{cyan}{\bigstar}} \: \: {\underline{\boxed{\red{\sf{ R = \dfrac{S.I \times 100}{P \times T}}}}}}★

R=

P×T

S.I×100

Where :

➙ R = Rate

➙ S.I = Simple Interest

➙ P = Principle

➙ T = Time

\qquad{━━━━━━━━━━━━━━━━━━}━━━━━━━━━━━━━━━━━━

~ Calculating the Rate for Bank B :

\begin{gathered}{\dashrightarrow{\qquad{\sf{ Rate{\tiny_{(Bank \: B)}} = \dfrac{S.I \times 100}{P \times T}}}}} \\ \\ \ {\dashrightarrow{\qquad{\sf{ Rate{\tiny_{(Bank \: B)}} = \dfrac{37500 \times 100}{150000 \times 2}}}}} \\ \\ \ {\dashrightarrow{\qquad{\sf{ Rate{\tiny_{(Bank \: B)}} = \cancel\dfrac{3750000}{300000}}}}} \\ \\ \ {\qquad{\textsf{ Rate for Bank B = {\color{orange}{\rm{ 12.5 \: \% }}}}}}\end{gathered}

⇢Rate

(BankB)

=

P×T

S.I×100

⇢Rate

(BankB)

=

150000×2

37500×100

⇢Rate

(BankB)

=

300000

3750000

Rate for Bank B = 12.5 %

\qquad{━━━━━━━━━━━━━━━━━━}━━━━━━━━━━━━━━━━━━

~ Comparison :

\qquad{\sf{12 < 12.5}}12<12.5

Bank A < Bank B

\qquad{━━━━━━━━━━━━━━━━━━}━━━━━━━━━━━━━━━━━━

Therefore :

❝ Bank A provided a better(i.e,Cheaper) offer to the farmer .❞

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