Mahesh borrowed 8500 from bank to purchase a cow and after 1 year he paid 9180 back to bank. Find the interest that was given by Mahesh.

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
icon
Related questions
Question

1. Mahesh borrowed 8500 from bank to purchase a cow and after 1 year he paid 9180 back to bank. Find the interest that was given by Mahesh. 2. Vikrant borrowed 12600 from a landlord. If the rate percent is 18% per annum, then find that how much money will he pay after 1 year? 3. Calculate the simple interest on 5000 at 4% per annum for 2 years. 4. Calculate the amount and simple interest on *6250 at 12% per annum for 3 years. 1 2 5. A farmer borrowed from a co-operative bank * 12500 to purchase a pump set at 8% per annum for 5 years. How much interest will he pay after 5 years? 1

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
EBK CFIN
EBK CFIN
Finance
ISBN:
9781337671743
Author:
BESLEY
Publisher:
CENGAGE LEARNING - CONSIGNMENT