Question

Meena took a car loan for Rs 275000 from the bank.she paid an in@8% p a and settled the account after 3 years.At the time of settlement ,she gave her old scooter to the bank plus Rs 335000.what price did the scooter fetch​

Answer 1

Answer:

Hope this will help you out..

Answer 2

The price of old scooter is Rs 6000

Solution:

Meena took a car loan for Rs 275000 from the bank.she paid an in@8% p a and settled the account after 3 year

Step 1:

Find the simple interest

$Simple\ Interest = \frac{ p \times n \times r}{100} \\\\Simple\ Interest = \frac{ 275000 \times 3 \times 8 }{100} \\\\Simple\ Interest = 66000$

Thus,

Total amount to be paid = simple interest + principal

Total amount to be paid = 66000 + 275000

Total amount to be paid = 341000

Thus,

Price of old scooter = 341000 - 335000 = 6000

Thus price of old scooter is Rs 6000

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