Question

A man gives 340,000 to a farmer at a 5% rate
of interest. How much interest would the farmer
pay him back after two years?​

Answer 1

Step-by-step explanation:

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ANSWER

Given principle(P)=Rs. 5300

Interest rate(r)=8%

Time=2

2

1

=

2

5

Total amount=P(1+

100

nr

)=5300

⎝

⎜

⎜

⎛

1+

100

2

5

×8

⎠

⎟

⎟

⎞

=5300(1.2)=Rs. 6360

Total amount= Paid amount+Watch price

6360=4600+watch

⇒ Watch=Rs. 1760.

Answer 2

Interest= 340000*5*2/100=34000