Question

John lent Rs. 2550 to Mohan at 7.5 percent per annum. If Mohan discharges the debt after 8 months by giving an old black and white television and Rs. 1422.50; find the price of the television.

Answer 1

P = Rs.2550

R = 7.5%

T = 8 months =`8/12` years

`=2/3` years

S.I. =`("P"xx"R"xx"T")/100`

= Rs. `2550xx7.5xx2/3xx1/100`

= Rs. `(2550xx7.5xx2)/(3xx100)`

= Rs. `(2500xx5)/100`

= Rs.`12750/100`

= Rs.127.50

Amount = P + I

= Rs.2550 + Rs.127.50

= Rs.2677.50

Mohan paid in cash = Rs.1422.50

Price of the television

= Amount − Paid in cash

= Rs.2677.50 − Rs.1422.50

= Rs.1255