Question

To purchase a cow, a farmer borrowed some money at a rate of 9 p.c.p.a. interest for 3 1/2 years
If he paid ? 15,750 as total interest, how much money had he borrowed?
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Answer 1

Answer:

To purchase a cow, a farmer borrowed some money from a bank. He cleared his debt by paying Rs 4720 at the end of 1 and a half year. If the bank charges interest at the rate of 12% per annum. Find the cost of the cow.