Meena took a car loan for Rs 2, 75,000/- from the bank. She paid an interest of 8% per annum and settled the account after 3 years. At the time of settlement, she gave her old scooter to the bank plus Rs 3, 35,000/- What price did the scooter fetch?
Explanation:
Solution 8:
PTR / 100 = (275000 * 3 * 8) / 100
= Rs 66,000
The total amount she had to pay = 2,75,000 + 66,000 = Rs 3,41,000
3,41,000 - 3,35,000
= Rs 6,000/-
Hence she was able to fetch Rs 6,000 for the scooter.
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By: Parvesh Mehta