Question

John lent Rs.2550 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.1422.50;find the price of the television.

Answer 1

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

Answer 2

The price of the television is Rs.1255.

Step-by-step explanation:

Given:

John lent Rs.2550 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.1422.50.

Find the price of the television.

Solution:

Amount = 2550, interest = 7.5%

12 months interest = $\frac{7.5 \times 2550}{100}$ =191.25

8 months interest = 127.5

Amount to be returned= 2677.5

Amount of TV = 2677.5 – 1422.5 = 1255 Rs.

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