Question

to purchase seeds a farmer borrowed money from a bank he cleared his debt by paying 10.000/-at the end of one and a half year. If the bank charges interest @ 12. per annum, find the cost of the seeds.​

Answer 1

A = Rs 4720 R = 12% p. a T = 1 ½ years = 3/2 years Recall the formula, A = P[1 + (TR/100)] = 4720[ 1 + (3 × 12)/200] = 6419.20 Hence the cost of the cow is Rs 6419.20