Question

Sudhir borrowed Rupees 300000 at 12% per annum from money lender at the end of 3 years he cleared the account by paying 260000 and a gold necklace find the cost of the necklace

Answer 1

Your Ans:

300000(1+12/100)^3
=300000(112/100)3
=300000(6/5)3
=360000

then He gave a gold necklaces worth 260000
so,
(260000+x)=360000
=100000

Your ans; gold chain cost 100000.

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Answer 2

Given:

Principle = 300000

Rate = 12%

Time = 3 years

Amount = 260000 + Gold Necklace

To Find:

Cost of necklace

Solution:

We know that

Amount = P(1 +rt)

So, substituting these values in the equation, we get

260000 + Gold Necklace = 300000{1 + 0.12(3)}

                                           = 300000(1.36)

                                           = 408000

⇒Gold Necklace = 408000 - 260000 = 148000

Hence, the cost of the necklace is 148000.