Question

Anil borrowed Rs 360 at Rs 15 % p.a. At the end of 2 years he paid Rs 200 and a watch .Find the cost of the watch.​

Answer 1

Answer:

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Answer 2

The cost of the watch is Rs. 268.

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Let's understand a few concepts:

To calculate the simple interest we will use the following formula:

$\boxed{\bold{Simple \:Interest = \frac{Principal\times Rate \times Time }{100} }}$

To calculate the amount in simple interest we will use the following formula:

$\boxed{\bold{Amount = Principal + S.I.}}$

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Let's now solve the given problem:

The sum of money i.e., Principal borrowed by Anil = Rs. 360

The no. of years i.e., Time = 2 years

The rate of simple interest i.e., Rate = 15% p.a.

By substituting the given values in the above formula of simple interest, we get,

The simple interest is,

= $\frac{360\times 15 \times 2 }{100}$

= $\frac{360\times 30 }{100}$

= $36\times 3$

= $\bold{Rs. \:108}$

By substituting the given values in the above formula of the amount, we get,

The amount to be received is,

= $Rs. \:360 + Rs.\:108$

= $\bold{Rs. 468}$

It is given that at the end of 2 years Anil paid Rs. 200 and a watch

Therefore,

The cost of the watch will be,

= [Total amount to be paid at the end of 2 years] - [Amount paid by Anil at the end of 2 years]

= $Rs. \:468 - Rs.\: 200$

= $\bold{Rs.\:268}$

Thus, the cost of the watch is Rs. 268.

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