Question

Hari borrowed $12600 from a moneylender at 15% per annum simple interest. After 3 years, he paid $7070 and gave a goat to clear off the debt. What is the cost of the goat ?

Answer 1

Solutions :-

Given :

Principle = (p) = $ 12600

Rate (r) = 15% p.a

Time (t) = 3 years

Find the Simple Interest (S.I) :-

S.I = (p × r × t)/100

= $ (12600 × 15 × 3)/100

= $ 567000/100

= $ 5670

Find the Amount (A) :-

A = S.I + p

= $ (12600 + 5670)

= $ 18270

Find the cost of goat :-

Amount - Amount paid

= $ (18270 - 7070)

= $ 11200

Hence,

The cost of goat is $ 11200

Answer 2

HEY MATE HERE IS YOUR ANSWER

$\rule {156}{2}$


Some of abbreviations used are:-

P = Principal
R = Rate
T = Time
S. I = simple interest
A = Amount

$\rule {135} {2}$


Principal :- 12600 ₹

Rate : 15% p.a

Time : 3

$\rule {135} {2}$

We know that

S. I = p × r × t / 100

S. I = 12600 × 15 × 3 / 100

S. I = 5670

We know that, To find amount (A)

Amount = S. I + P

➡️5670 +12600 = 18270 ₹

To find the cost of goat,

➡️ Amount - amount paid

➡️ 18270 - 7070

➡️ ₹ 11200

Therefore, the cost of goat is ₹ 11200.