A farmer
borrowed Rs. 15,000 from a trader
at 15% Rate of interest. Later when he gave
the trader Rs. 21,000 to settle the loan, the
trader gave him Rs. 375 back. The period of
time was
1. 2y. 6 m
2. 2 y. 8 m
3. 2 y.9 m.
4.2 y. 5 m.
borrowed Rs. 15,000 from a trader
at 15% Rate of interest. Later when he gave
the trader Rs. 21,000 to settle the loan, the
trader gave him Rs. 375 back. The period of
time was
1. 2y. 6 m
2. 2 y. 8 m
3. 2 y.9 m.
4.2 y. 5 m.
Answers & Comments
Answer:
1. 2y. 6m.
Step-by-step explanation:
Given that
P = Rs.15000
SI = Total amount paid back - Principal
= 21000 - 15000 = Rs. 6000
R = 15%
T = ?
So, we know that
SI = P × R × T
6000 = 15000 × 15 × T
100
T = 6000 × 100
15000 × 15
T = 600/225
T = 8/3
T = 2.6
So, T = 2y. 6m.