A farmer borrowed ₹ 4200 at 10% per annum. At the end of 5 yr he cleared his account by paying ₹ 5000 and a cow. The cost of the cow is?

₹ 1300
₹ 1240
₹ 1200
₹ 1340

Correct Answer: ₹ 1300

Explanation:

Amount after 5 yr, 4200 + (4200 x 10 x 5)/100
= (4200 + 2100) = Rs 6300
∴ Cost of the cow = (6300 - 5000) = ₹ 1300

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