A person borrowed some money at 14 % rate of interest per annum simple interest and bought a motorbike with that money. At the end of 5 years he cleared the loan by paying $586 50. Find the cost of the bike?
Answers
Answered by
0
Answer:
7/2
Step-by-step explanation:
14×5×50/100=7/2 is the answer is right
Answered by
0
Answer:
Cost of the bike is $345
Step-by-step explanation:
Let cost of the bike (P)= $x
Amount of money he paid after 5 yrs.(A)=$586.50
S.I = A - P
= $586.50 - x
Rate (r) = 14% per annum
Time (t) = 5yrs.
S.I = (P×r×t )/100
586.50 -x =(x×14×5 )/100
(586.50-x)×100=70x
(586.50×100 ) - 100x=70x
58650 =70x + 100x
58650 =170x
58650/170 =x
345= x
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