Question

Please answer these two questions:
1. Ram borrowed 85000 rupees from his friend. After a year he returned 95000 rupees. Find the Interest.
2. If Raj sells a sofa for 10,800 rupees, with a profit of 20%, what is the cost price of the sofa set?

Answer 1

Answer:

Manish borrowed Rs.75000

So the principal is Rs.750000

and after a year he returns Rs80000

so the interest that he paid on Rs.75000 is =Rs.(80,000−75,000)

=Rs.5000

Now, the interest =

100

Principal×rate×time

here time = 1 year

∴5000=

100

75000×r×1

⇒

15

100

=r

⇒r=6

15

10

=6

3

2

%

Answer 2

1 is near about 12 %

2 is 12960