Question

A person took a loan from a bank at 12% rate of simple interest and purchased two houses. after two years he sold the house for rs. 56200 and rs. 51800. the person made a profit 20% over the purchase price of the houses after making the payment to bank with interest . how much money the person borrowed from bank ?

Answer 1

Answer:

Rs.68400

Step-by-step explanation:

Total Selling price=56200+51800=108000

Cost price of two houses=120/100+20×108000=90000

Amount borrowed from the bank=90000-(90000×12×2/100)=90000-21600=68400

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