A farmer buys a used tractor for Rs 12000

MATHEMATICS · Subjective · IB Diploma Programme · Mathematics: Applications and Interpretation · Number and Algebra · Number and Algebra

Problem

13. A farmer buys a used tractor for Rs 12000 . He pays Rs 6000 cash and agrees to pay the balance in annual instalments of Rs 500 plus

12 \%

interest on the unpaid amount. How much will the tractor cost him?