Question

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

Answer 1

please see the attachment.

Answer 2

Answer:

The cost of the goat is 11200

Step-by-step explanation:

Let the amount that Hari borrowed from a money lender is

P = 12600 Rupees

Rate of interest R = 15%

Time T = 3 years

Therefore simple interest is given by

$SI=\frac{(P)(T)(R)}{100}$

    $= \frac{(12600)(3)(15)}{100}$

SI = 5670

Therefore the total amount Hari has to paid to money lander is

A = 12600 + 5670

A = 18270

The cost of goat = 18270 - 7070

                           = 11200

Therefore the cost of goat is 11200