Question

a man borrowed rupees 48000 from a bank at 7.5 % P. A. for 3 years after completion of time he gave rupees 55000 and a watch to the bank to settle the loan what was the price of the watch

Answer 1

the formula to find simple interest is P*R*T so,the principal is 48000 rate of interest is 7.5%per annum and time is 3years so, the simple interest will be48000*7.5/100*3 the answer will be 10800.therefore the amount to be paid is simple interest +principal. 10800+48000 is equal to 58800(this is the amount to be paid to the bank)If he paid 55000 and a watch .The price of the watch will be amount-55000 I.e 58800-55000 is equal to 3800.so,the price of the watch will be 3800

Answer 2

price of the watch=₹3800