John lent 2,550 to Mohan at 7.5 per cent per annum. If Mohan discharges the debt after
8 months by giving an old black and white
television and 1,422.50. Find the price of
the television.

 $1,077.50   or   $1,078.06 (see below)

Step-by-step explanation:

Since the interest is applied after 1 year and the debt was repaid in 8 months, no interest was accrued on the $2,550 loan.

Thus, the price of the tv is: $2,550 - $1,422.50 = $1,077.50

Note: If interest is charged for the 8 months (3/4 of a year), then the interest added to the loan amount is: 0.75(3/4) = $0.56

⇒ the the price of the tv is: $1,077.50 + $0.56 = $1,078.06

x is the total time in minutes for the free response

you are given number of questions as 15 - m and time per item as 8 minutes

to find x multiply the two givens together:

x = 8 * (15-m) = 8(15-m)