A farmer borrowed Tk. 3600 at 15% simple interest per annum. At the end of 4 years, he cleared this account by paying Tk. 4000 and a goat. The cost of the goat is-

Question: A farmer borrowed Tk. 3600 at 15% simple interest per annum. At the end of 4 years, he cleared this account by paying Tk. 4000 and a goat. The cost of the goat is-

Solution:
S.I for 4 years = Tk. (3600 × 15 × 4​)/100
= Tk. 2160

Amount after 4 years = Tk. (3600 + 2160) = Tk. 5760

Cost of goat = Tk. (5760 - 4000) = Tk. 1760