Twenty members of a group contributed sh 80000 each to buy a piece of land. They already had sh 120000 in a bank out of which sh 20000 was to remain in the bank and the rest spent in buying the price of land. How much did the piece of land cost?

Answer 1

Twenty members of a group contributed sh 80000 each
means
contribution from members
= 20 members * 80000
=sh 1600000

They already had sh 120000 in a bank out of which sh 20000 was to remain
means
from bank reserve
= 120000 - 20000
= sh 100000

Price of land
= sum of contributions and reserve
= 1600000+100000
= sh 1700000