Question discussion

Meena took a loan for Rs. 275,000 from the bank. She paid an interest @ 8% p.a. and settled the account after 3 years. At the time of settl…

157549Medium 1 reply 1,078 views

Meena took a loan for Rs. 275,000 from the bank. She paid an interest @ 8% p.a. and settled the account after 3 years. At the time of settlement she gave her old scooter to the bank plus Rs. 335,000. What price did the scooter fetch?

A60,000
B6,000
C66,000
D6,600

Answer not set

Join the discussion Report an error

Discussion 1

CCommunity30 Apr 2019

⇒ Simple interest = (principle × time × rate)/100 = (275000 × 3 × 8)/100 = 66000

⇒ Total amount to be paid = 275000 + 66000 = Rs. 341000

⇒ Price of old scooter = 341000 - 335000 = Rs. 6000