Question

John lent $Rs.2,550$ to Mohan at $7.5$ per cent per annum. If Mohan discharges the debt after $8$ months by giving an old black and white television and $Rs.1,422.50$; find the price of the television.

• A. $Rs.922$
• B. $Rs.1,013$
• C. $Rs.1,132$
• D. $Rs.1,255$

Answer 1

The correct option is D $Rs.1,255$

Simple Interest $I=\frac{PNR}{100}$

Given,

$P=Rs2,550$

$N=\frac{8}{12}years$

$R=7.5$

So, $=>I=\frac{PNR}{100}$

$=>I=\frac{2,550\times \frac{8}{12}\times 7.5}{100}$

$=>I=Rs127.5$

So, total amount to be paid $=P+I=Rs2,550+Rs127.5=Rs2677.5$

Given, Price of TV $+Rs1422.50=Rs2677.5$

=> Price of TV =$Rs2677.5-1422.50=1255Rs$