Question

Ken borrowed rs.2000 from sam at 8% per annum after 6 years he cleared the amount by giving rs2600 cash and a watch find the cost of the watch

Answer 1

Let us find the interest for 6 years ,
 p = $2000 , t = 6 , rate = 8%
  ( p× t × r)/ 100
= (2000×  6 × 8) /100
= 960
the interest is = $ 960
the total amount to be cleared after 6 years = p.a + interest
                                                                     = 2000+ 960
                                                                     = $2960
ken cleared by giving $2600 and a watch
cost of watch = $ 2960- 2600
                       = $ 360

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Answer 2

let us find the interest for 6 years ,

p = $2000 , t = 6 , rate = 8%

 ( p× t × r)/ 100

= (2000×  6 × 8) /100

= 960

the interest is = $ 960

the total amount to be cleared after 6 years = p.a + interest

                                                                    = 2000+ 960

                                                                    = $2960

ken cleared by giving $2600 and a watch

cost of watch = $ 2960- 2600

                      = $ 360