A farmer borrows Rs. $8000$ from a co-operative society for $2$ years at the rate of $12 %$ . How much does the farmer have to pay at the end of two years ?

Open in App

Solution

Interest given per year = $\frac{8000 \times 12 \times 1}{100}$

= $960$

So for 2 years, the interest will be $960 \times 2 = 1920$

So total money the farmer should pay to society will be $(8000 + 1920)$

which will be equals to $9920$ rupees

Suggest Corrections

Similar questions

Q. Chirag borrows

R s 1, 50, 000

11 %

are for

2

years from a 'Co-operative Society' to go foreign at compound interest. At last how much compound interest will Chirag have to pay?

Solve the following problems.

A farmer borrowed a sum of Rs. 10,000 as loan from a co-operative society at 8% p.a simple interest. The government exempted 2% interest as famine relief. He returned the loan after 5 years. How much interest did he save?

Q. Ajay borrows Rs.1500 from two money-lenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other. The total interest he pays for the entire year is Rs. 186. How much does he borrow at the rate of 12%?

Q. 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?

Q. For higher education, Trusha borrows Rs.

9600

from the post-office for

2 \frac{1}{2}

years at the rate of

9 %

. How much interest and amount would she pay back at the end of the term ?

Join BYJU'S Learning Program

A farmer borrows Rs. 8000 from a co-operative society for 2 years at the rate of 12%. How much does the farmer have to pay at the end of two years ?

Interest given per year = 8000×12×1100 = 960So for 2 years, the interest will be 960×2=1920So total money the farmer should pay to society will be (8000+1920)which will be equals to 9920 rupees

A farmer borrows Rs. $8000$ from a co-operative society for $2$ years at the rate of $12 %$ . How much does the farmer have to pay at the end of two years ?

Interest given per year = $\frac{8000 \times 12 \times 1}{100}$

= $960$

So for 2 years, the interest will be $960 \times 2 = 1920$

So total money the farmer should pay to society will be $(8000 + 1920)$

which will be equals to $9920$ rupees