9.An agricultural Co-operative society gives agricultural loan to its

1.	9.An agricultural Co-operative society gives agricultural loan to its members at the rate ofsimple interest of 4% per annum. But an interest is to be given at the rate of simple interestof 7.4% per annum for a loan taken from the bank. If a farmer being a member of the Co-operative society takes a loan of 5000 from it instead of taking loan from the bank, thenlet us write, by calculating the money to be saved as interest per annum.
Answer» GIVEN :- Co-operative society gives agricultural loan to its MEMBERS at the rate of simple interest of 4% per annum. Bank gives loan at the rate od 7.4 % per annum. Total loan taken by farmer from Co- operative society = Rs.5000 . To Find :- The money to be saved as interest per annum. Solution :- we know that, when rate is simple interest per annum , SI = (P * R * T)/100 . so, → SI given to Co-operative society = (5000 * 4 * 1)/100 = Rs.200 . and, → SI farmed would have given to bank = (5000 * 7.4 * 1)/100 = Rs.370 . then, → Total money saved by farmer = 370 - 200 = Rs.170 (Ans.) Learn more :- CI in 2yr is Rs. 1600 and in 3 YRS it will be Rs. 1700. Find the rate of interest. brainly.in/question/32463301

9.An agricultural Co-operative society gives agricultural loan to its members at the rate ofsimple interest of 4% per annum. But an interest is to be given at the rate of simple interestof 7.4% per annum for a loan taken from the bank. If a farmer being a member of the Co-operative society takes a loan of 5000 from it instead of taking loan from the bank, thenlet us write, by calculating the money to be saved as interest per annum.

Answer»

GIVEN :-

Co-operative society gives agricultural loan to its MEMBERS at the rate of simple interest of 4% per annum.
Bank gives loan at the rate od 7.4 % per annum.
Total loan taken by farmer from Co-
operative society = Rs.5000 .

To Find :-

Solution :-

we know that, when rate is simple interest per annum ,

so,

→ SI given to Co-operative society = (5000 * 4 * 1)/100 = Rs.200 .

and,

→ SI farmed would have given to bank = (5000 * 7.4 * 1)/100 = Rs.370 .

then,

→ Total money saved by farmer = 370 - 200 = Rs.170 (Ans.)

Learn more :-

CI in 2yr is Rs. 1600 and in 3 YRS it will be Rs. 1700. Find the rate of interest.