Question

Abhishek borrowed Rs.750 for aperiod of 6 years at the rate of 4% per annum. After fixed time, he cleared his debt by paying Rs. 300 in cash and a radio set . Find the price of the radio set .

Answer 1

ANSWER

I=

100

500×

2

7

×6

=Rs.105

Amount = P + I

=500+105=Rs.605

∴ Price of radio =605−350

=Rs.255