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Mathematics

John lent ₹ 2,550 to Mohan at 7.5 percent per annum. If Mohan discharges the debt after 8 months by giving an old television and ₹ 1,422.50, find the price of the television.

Simple Interest

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Answer

Given:

P = ₹ 2,550

R = 7.5%

T = 8 months = 812\dfrac{8}{12} years

= 23\dfrac{2}{3} years

S.I.=(P×R×T100)=(2,550×7.5×23×100)=(38,250300)=127.50\text{S.I.} = \Big(\dfrac{P \times R \times T}{100}\Big)\\[1em] = \Big(\dfrac{2,550 \times 7.5 \times 2}{3 \times 100}\Big)\\[1em] = \Big(\dfrac{38,250}{300}\Big)\\[1em] = 127.50

And

A = P + S.I.⇒A=2,550+127.50⇒A=2,677.50\text{A = P + S.I.}\\[1em] \Rightarrow \text{A} = 2,550 + 127.50\\[1em] \Rightarrow \text{A} = 2,677.50

Mohan paid in cash = ₹ 1,422.50

Price of the television = Amount - Paid in cash

= ₹ 2,677.50 - ₹ 1,422.50

= ₹ 1,255

Hence, the cost of television = ₹ 1,255

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