Question

Rajesh borrowed rs 2000 from a moneylender at 18percent per annum .after two years he gave back rs 18000 cash and a motorbike and settled the account. How much did he get for his bike

Answer 1

I hope this helps you.

Answer 2

money borrowed =20000
interest =18% per annum
interest of 1 year =
$20000 \times 18 \div 100 \\ = 3600$

interest of 2 year = 3600 + 3600
= 7200
total money to be paid after 2 year
= principle + intrest
= 20000 + 7200
=27200

he paid after 2 year= 18000 + bike
cost of bike = 27200 - 18000
= 9200