Salim borrowed Rs. 50000 at 12% p.a. interest and cleared the account by

Salim borrowed Rs. 50000 at 12% p.a. interest and cleared the account by paying Rs. 40000 and his motorcycle at the end of 3 years. Find the cost of the motor cycle.
(a) Rs. 30000
(b) Rs. 32000
(c) Rs. 35000
(D) Rs. 28000

Anurag Mishra Professor Asked on 29th February 2016 in Maths.
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  • 1 Answer(s)

    Answer: (D) Rs. 28000

    Solution:-
    Salim borrowed Rs. 50000 at 12% p.a. interest for 3 years, 
    Then, Principal = 50, 000 , rate = 12% & Time = 3 years

    Simple Interest = 50000 x 12 x 3/100
     = 500 x 36
     = 18000

    Amount = 50000 + 18000
     = 68000

    He paying Rs. 40000 and motorcycle 
    Cost of Motorcycle + 40000 = 68000
     Cost of motorcycle = 68000 – 40000
     = Rs. 28, 000

    Then, the cost of motorcycle is Rs. 28000.

    Hence, the correct answer is option (D) Rs. 28000.

    Anurag Mishra Professor Answered on 2nd March 2016.
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