What Is The Cost of The Cow?

A farmer borrowed ` 2400 at 12% interest per annum. At the end of 2.5 years, he cleared his account by paying ` 1200 and a cow. What is the cost of the cow?

  1. 3120
  2. 2350
  3. 1920
  4. 2120
kaushar Default Asked on 26th July 2015 in Maths.
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1 Answer(s)

Answer:  (3) 1920
Explanation:- 
Given-
Principal = Rs.2400, Time = 2.5 = 5/2 years  & Rate = 12 %
Formula-
Simple Interest  = P x R x T/100
Where, P – principal , R – rate, T – time
Then, Simple Interest = 2400 x 12 x 5/2 x 100
= Rs.720
Amount = Principal + Simple Interest
Then,
Amount = 2400 + 720
= Rs.3120
1200 + cow = 3120        (Given in question)
Cow = 3120 – 1200
Cow = Rs.1920
Hence, the answer is (3) Rs.1920.

Anurag Mishra Professor Answered on 26th July 2015.
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