Question

David lent ₹27000 to Leo at 8% per annum. If Leo discharges the debt after 8 months by giving him a color television and ₹14200 cash, find the price of the television.

(Use simple interest).

• A. ₹ 14200
• B. ₹ 14500
• C. ₹ 14240
• D. ₹ 15200

Answer 1

The correct option is C

₹ 14240

Given : P = ₹27000 , R = 8% and
$\text{T}=\frac{8}{12}$ years

$SI=\frac{P\times R\times T}{100}$

$=\frac{27000\times 8\times 8}{12\times 100}$

= ₹1440

$\therefore$ Amount = SI + P = ₹(1440 + 27000) = ₹28440

Amount returned in cash = ₹14200

$\therefore$ Cost of the television = ₹28440 - ₹14200 = ₹14240