Question

2. Amicrowave oven is available for 9600 cash or for4000 cash down payment and
3 equal monthly instalments. If the rate of interest charged is 22 2by 9 % per annum, find
the amount of each instalment.​

Answer 1

Answer:

Let r% p.a. be the rate under installment scheme. After Rs 600 cash is paid, Rs 1200 remained to be paid. This becomes Rs 1,220. Total interest paid is Rs 20.

Now Rs 1,200 is kept for one month and Rs 600 is kept for one month.

⇒ Rs 600 is kept for 3 months at r% and interest paid is Rs 20.

∴20=600×

12

3

×

100

r

⇒r=

3

40

=13.33%.

Step-by-step explanation:

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Answer 2

Answer:

Cash price =₹9600

cash down price = ₹4000

Amount to be paid instalment scheme = ₹(9600-4000) =₹5600

Amount to in instalment =×

Number of instalment=3

Total amount to be paid Instalment = 3×x= 3x

Interest =3x-5600

Rate =200/9%

1st monthly= 5600

2nd monthly =5600-x

3rd monthly 5600-2x

Total principal=16800-3x

Find the S.I= P×R×T/100

=3x-5600=(16800-3x)/100 ×200/9×1/12

3x-5600=(16800-3x) ×1/54

3x-5600=3(16800-3x) ×1/18

3x-5600=5600-x/18

18(3x-5600) =5600-x

54x-100800=5600-x

54x+x= 5600+100800

55x=106400

x=106400/55=1934.54Ans.