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Standard VII

Mathematics

Interest

A man borrowe...

Question

A man borrowed Rs. $500$ at a rate of 6% per annum. At the end of $3 \frac{1}{2}$ years he paid back Rs. 350 and gave his radio for the balance amount. The price of the radio is

Rs.

255

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Rs.

250

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Rs.

300

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Rs.

350

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Solution

The correct option is B Rs. $255$
$I = \frac{500 \times \frac{7}{2} \times 6}{100} = R s .105$
Amount = P + I
$= 500 + 105 = R s . 605$
$∴$ Price of radio $= 605 - 350$
$= R s . 255$

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A man borrowed Rs.500 at a rate of 6% per annum. At the end of 312 years he paid back Rs. 350 and gave his radio for the balance amount. The price of the radio is

The correct option is B Rs. 255I=500×72×6100=Rs.105Amount = P + I=500+105=Rs.605∴ Price of radio =605−350=Rs.255

A man borrowed Rs. $500$ at a rate of 6% per annum. At the end of $3 \frac{1}{2}$ years he paid back Rs. 350 and gave his radio for the balance amount. The price of the radio is

The correct option is B Rs. $255$
$I = \frac{500 \times \frac{7}{2} \times 6}{100} = R s .105$
Amount = P + I
$= 500 + 105 = R s . 605$
$∴$ Price of radio $= 605 - 350$
$= R s . 255$