Question

John lent Rs 2,550 to Mohan at 7.5% per annum. If Mohan discharges the debt after 8 months by giving an old black and white television and Rs 1,422.5 .Find the price of the television?

Answer 1

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☛ Amount lent = Rs.2550

☛ Rate of interest = 7.5%

☛ Interest for 12 months = 7.5 * 2550/100 = Rs.191.25

☛ Interest for  8 months = Rs.127.5

☛ So amount to be returned = 2677.5

☛ Amount given = 1422.5 +amount of TV = 2677.5

☛ Amount of TV = Rs.1255

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Answer 2

Amount lent = Rs.2550

☛ Rate of interest = 7.5%

☛ Interest for 12 months = 7.5 * 2550/100 = Rs.191.25

☛ Interest for  8 months = Rs.127.5

☛ So amount to be returned = 2677.5

☛ Amount given = 1422.5 +amount of TV = 2677.5

☛ Amount of TV = Rs.1255