Question

Nand Lal borrowed 1000 from his friend on simple interest at 6% per annum. After 7 years, he
paid * 700 cash and a buffalo. What was the cost of buffalo?

explain step by step ​

Answer 1

Answer:

860

Step-by-step explanation:

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Answer 2

Principal (P)= 1000

Rate of interest (R) = 6%

Time (T)=7 years

$S.I. = \frac{P \times R \times T}{100} \\ \: \: \: \: \: \: \: \: \: = \frac{1000 \times 6 \times 7}{100} \\ \: \: \: \: \: \: \: \: \: = 420$

Amount=Principal+S.I.

= 1000+420

= 1420

He paid cash=700

Remaining amount = Cost of buffalo

Cost of buffalo= 1420-700=720