Question

Anjali borrow 19000 rupees at 6% interest for 2 years at the end of 2 years she pays 15000 rupees and a gold ring to the money lender. What is the value of the gold ring

Answer 1

Gold ring = 6180

Explanation:

Gold ring = ?

I = prt

= 19000 x 6% x 2

= 2180

Amount to be paid= 19000 + 2180

= 21180

gold ring = 21180 - 15000

= 6180