Question

Shanta borrowed ₹ 12600 from a moneylender at 15% per annum simple interest .after 3 year ,he paid ₹7070 and gave a goat to claear off the debt .what is the cost of the goat​

Answer 1

Answer:

Calculation of Amount payable with interest:

A = P(1 + rt)

A = 12600(1+( 0.15*3))

A= 12600 (1+0.45)

A= 12600*1.45

A= 18270.

Total Amount payble = 18270.

Amount paid in monetary terms = 7070

Hence, balance would be the deemed cost of the goat = 18270–7070 = 11,200.

Answer 2

Answer:

Formula A =PTR/100

12600*3*15/100

=5670

Total Amount payable, 12600+5670=18270

Amount paid in monetary terms, 7070

Hence balance would be the deemed cost of the goat =18270-7070=11200