1.

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?1). 60,0002). 6,0003). 66,0004). 6,600

Answer»

⇒ 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


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