MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Application of Simple Interest in Real Life Situations

A farmer borr...

Question

A farmer borrowed rs 15000 from a money lender at 13 percentage per annum simple interest. At the end of 3 years he settled the account after paying RS 8000 cash and a motorcycle . Find the value of the motorcycle?

Open in App

Solution

Interest = PNR / 100

Interest = 15000313/100 = 5850

Total amount to be settled = 15000+5850 = 20850

Let the value of motorcycle be x.

So, x + 8000 = 20850

x= 20850 - 8000 = 12850

So the value of motorcycle is 12850.

Suggest Corrections

thumbs-up

38

Similar questions

Q. Ankita borrows Rs 7000 at simple interest from a lender. At the end of 3 years, she again borrows Rs 3000 and settled that amount after paying Rs 4615 as interest after 8 years from the time she made the first borrowing. What is the rate of interest?

Q. Prem Avtar borrowed some money from a money lender at 25% p.a. simple interest.After 3 years, he paid Rs 4,620 and settled the account. What sum did he borrow?

Q. What percentage rate of simple interest per annum did Ashok pay to Sudhir?
(I) Ashok borrowed Rs. 8000 from Sudhir for four years.
(II) Ashok returned Rs. 8800 to Sudhir at the end of two years and settled the loan.

Q. A farmer borrowed Rs

5300

8

% interest per annum. At the end of

2 \frac{1}{2}

he cleared his account by paying rs

4600

and a watch. Find the cost of watch.

Q. A person borrowed Rs 5,500 from a money lender at the rate of 24% per annum simple interest. He lent this amount to his friend at the rate of 36% per annum simple interest. After two years he collected the amount due to the money lender. The amount he thus earned is

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Interest

MATHEMATICS

Watch in App

explore_more_icon

Explore more

Application of Simple Interest in Real Life Situations

Standard VII Mathematics

Join BYJU'S Learning Program

CrossIcon